OCR Text |
Show J Steel Plant Being 3 Constructed 3 In Lima, Peru s Peru will take an important " step forward on the road to indus-trialization indus-trialization in September when J construction is completed on the first electric furnace for the steel plant that Is now being construct-5 construct-5 ed in Chimbote 300 miles north of I Lima. The Chimbote factory will be the first of its kind in Peru, and the third in South America. Steel ., is already being produced in Brail Bra-il zil and Chile. An accord was reached in March 1950, under the terms of which the plant will be constructed under the joint direction of the Peruvian Santa Corporation a government entity, and French financial interests. inter-ests. It is estimated that Peru's first steel plant will be built at a cost .. of $10,600,000 and have an annual " production of 60,000 tons of steel. Iron will be transported to the factory from the rich iron ore deposits de-posits of the Marcona plateau, located lo-cated about 600 miles south of L Chimbote. Preliminary work is being be-ing pushed forward rapidly here by the Utah Construction Com- pany in preparation for the exploitation exploi-tation of this ore estimated to be in excess of 106,000,000 tons. AU steel produced at Chimbote will be absorbed by the national market. According to enginers and Peruvian Pe-ruvian government officials, steel produced by the Chimbote plant will be sold at a price considerably less than what is being paid now for steel imports. Norwegian engineer Karl Lorck arrived in Lima this month from Norway to supervise the construction construc-tion of the electric furnaces. These furnaces are being constructed by the Norwegian firm Elektro Kem-is Kem-is of Oslo. Other major installations installa-tions are being built by French industrialists. This newly founded national industry in-dustry is giving impetus to other industrial developments in the Chimbote area. The Central Hidro- ejectrica del Canon del Pato is negotiating for funds to expand their capacity to 150,000 kilowatts. Work is also getting under way to increase Peruvian coal production of the virtually untapped anthracite anthra-cite mines in the valley of the San-, San-, ta near Chimbote. |