Word: fomento
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Dates: during 1940-1949
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Cats & Rats. A project of the Chilean government's Corporación de Fomento de la Producción (Development Corporation), Huachipato will be the west coast's first completely integrated steel plant. Under construction since early 1947, the $83 million plant is being financed by Export-Import Bank loans totaling $48 million, by stock sales to Fomento and private Chilean interests, and by credits from U.S. firms (e.g., Pittsburgh's Koppers Co., Inc.), which are supplying equipment and technical know...
Chile's mountain riches will supply the raw materials: ore from Bethlehem's El Tofo mines, 500 miles up the coast; coal from the undersea veins of nearby Lota; power from Fomento's hydroelectric plant at neighboring El Abánico. Only limestone has been a problem. To get it, a crew of 130 men, with rat-hungry cats, is now setting up installations on rainy, rat-infested Madre de Dios Island, 900 miles down the coast...
Almost every country had its blueprint. One of the best was Fomento's (Chilean Government planning and financing corporation), sparked by vigorous Oscar Gajardo. Fomento had already spent $110,000,000, expected to put $140,000,000 more into economic landscaping this year. Its comprehensive plan reaches from steel to oil, from cattle to fish canning...
...Chile's Fomento Corporation (Chilean RFC), $12,000,000 to purchase six Lockheed twin-engine 14-passenger transport planes, and to the Central Bank $5,000,000 for mining equipment, pumps, compressors...