Word: huachipato
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Dates: during 1949-1949
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...where fishermen's cottages had stood, workmen were building the blast furnace and rolling mills of Huachipato, the No. 2 steel plant in Latin America (No. 1: Brazil's Volta Redonda). Where fishermen had spread their nets to dry, there was an 890-ft. dock. Modern brick houses for 4,000 workers were springing up in a planned industrial city which Chileans proudly compared to Oak Ridge...
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...
...Shot in the Arm. Huachipato's pig-iron capacity of 205,000 metric tons makes it only half as big as Volta Redonda, and tiny by Pittsburgh standards. But the 235,000 tons of steel it is expected to turn out each year when full production is reached will make Chile virtually self-sufficient in steel...
Besides giving impetus to new mining, metalworking and fabricating industries, Huachipato will save Chile some $15 million a year in foreign exchange formerly spent on steel in the U.S. Said Huachipato's General Manager Desiderio Garcia: "This is the beginning of Chile's real industrial revolution...
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