Aceros AZA inaugurated the modernization of its rolling mill at the Colina plant on Thursday with a US$ 15 million investment. The event comes as the company negotiates with Grupo CAP to acquire assets from the Huachipato steelworks.
AZA board president Jorge Matetic highlighted during the inauguration that the company has a clear horizon and produces green steel with one of the world's lowest carbon footprints using clean energy. Economy and Mining Biminister Daniel Mas attended the event and said the operation could generate growth and transform the lives of Chileans, though he clarified the government has not spoken with the companies as it is a private matter. AZA is negotiating with CAP to acquire steelmaking assets from Huachipato, which closed at the end of 2024. The purchase of the assets is valued between US$ 130 million and US$ 150 million. If the National Economic Prosecutor's Office approves the deal, AZA would invest another US$ 20 million in the rolling process, estimating 200 direct and indirect jobs. AZA general manager Hermann von Mühlenbrock stressed that fair competition on equal terms with foreign suppliers is essential. Matetic noted differences in carbon footprint and said it is unfair to compete with products that do not meet the same standards.
