Chile: the balanced view : a recopilation of articles about the Allende years and after

cosí $ 20 million, of whfch $ 7 million will be in local currency and $ 1'3 million in foreign currencies. Imports will be reduced by $ 6 million, and exports valued at $ 6 millíon will be sh-ipped after 1978. . 3. Petrochemicals. This field also .includes a long list óf projects under consideration: a) Urea and ammonia plant Talksare being held wlth varioL!sforeign firms that are willing tofinance completelythe construction of a 1,200-tori par dayammonia. plant based on natural gas found in the region of the Straits uf Mage11an. The plant would ultimately produce: 330,000 tons of urea. 200,000 tons of liquid ammoriia. The investment would be approximately $ 60 milljon, with roughly $ 20 miJlion in local currency and the remainder in foreign currencyto be paid for with the products ofthe plant itsalf, according to a "take it or pay it" formula. At normal prices, the value of exports would be in the' range of $ 60 mitlion per year, and the plant could be in operation by 1977. b) Ethylene plant. The surveyed production of ethane gas, which is contained in the natural gas pumped out inthe area of the Straits of Magellan, would permitthe installation of an ethylene plant witha production capacity of 120,OOOtons per year. The necessary investment of $ 30 mili ion would also be paid forwith export products, which would amountto $ 25 million. The financing of this project, like that of the urea and ammonia plant. is being discussed with specialized foreign firms that wish to participate in this venture. c) Alcohols and acetates plant. These products were reserved for Chile in the 1967 complementation agreement. Constructíon of a comple.x has been considered, which would be capabl'e of producing Acetal Acetic acid Vinyl acetate Diethyl hexene n-Butanol Isobutanol TONS PER YEAR 18.000 14.000 18,000 20,000 5,000 7,000 Progress has been mada on plansfor the plants, which are being examined oy international credit organizations. The plans call for an investment of approximately $ 40 / ' million in foreigncurrency and $ 13 million in local currency. The plant could be in full production by 1978, .generating foreign currency incomes equaling the total investment. d) Various projects. A number of other petrochemical projects are under consideration, including polyester chips and bags and sacks, which are not quantified in the present outline. 4. Construction materlals In this field, of course, there are numerous projects, inasmuch as construction is an expanding activity, subject to constant rénewal, and an area in which very little has been invested during the last few years. Some of the principal projects are the following: a) Melón Cement Plant. Investment in the range of $ 4.3 million to improve the mine operation ($ 1.3 mil/ion in national currency). 24-3