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They said that despite national and international contingencies, they foresee a good performance in the coming years.
At a remote shareholders’ meeting, Echeverría Izquierdo said that after being paralyzed for two weeks, they have already been working for 15 days in the construction of the Modernization and Expansion of the Arauco Plant (MAPA), one of the largest investments that is underway in the country, with a budget of US $ 2.35 billion.
The construction company is one of the firms that has been awarded one of the main contracts for the mega-work, which considers the civil works and electromechanical assembly of the Recovery Boiler, Power Boiler, Demineralized Water Plant, Air Compressors, Caustification Area and Lime.
At the board, the president of the company, Fernando Echeverría, detailed before a query about the state of that work, that “we are normalizing the situation, we had even decreased the staff there, due to the capacity of casinos and transport, but today we are already increasing our staff and we hope to have it complete in the next few days ”.
An optimistic look also showed regarding the reactivation of the construction of Quebrada Blanca, where they are in charge of the Primary Crusher, Overland Straps, Stock Pile and Claim Tunnel. The Canadian Teck decreed a temporary stoppage of the works from March 18, which in early April it was decided to maintain.
“We hope to resume the works in the coming weeks”, they said when adding that in all cases, the costs of the stoppages are assumed by the principal.
At the start of the meeting, in his description of the business, the chairman of the board generally discussed the future development of the company. “Despite the international and local contingencies, the significant backlog (works to be carried out) and the units promised to sell (in the real estate segment), they allow us to project a good performance of the company in the coming years, ”said Echeverría.
Pablo Ivelic, corporate general manager of the company detailed the measures they have taken to protect the safety of their workers, preventing the virus from spreading, and noted that “All our works are operational”, even realizing that they had been inspected on several occasions, without registering problems.
Regarding the specific effects of the crisis, Echeverría explained that We have had lower turnover than expected in late March and early April, but “today 95% of the works are working, I would say that the only exception is Quebrada Blanca, but the backlog is still intact”.
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