At Empresas Copec's shareholders' meeting, president Roberto Angelini voiced support for José Antonio Kast's economic megareform and updated the Sucuriú project in Brazil to 60% progress. He stressed economic growth as essential for welfare and criticized delays in Chilean permits. Angelini also addressed the initial impact of recent fuel price hikes.
Roberto Angelini, chairman of Empresas Copec, opened the shareholders' meeting this Wednesday with a speech on Chile's economic situation. 'Economic growth is not an end, but an indispensable enabler for bringing welfare to people,' he stated, warning against normalizing low activity levels and high unemployment.
Pressed by reporters, Angelini endorsed José Antonio Kast's megareform presented last week. 'We are of course aligned with what that project says, hopefully it gets approved for the good of the country, the companies, the workers, and the country,' he said.
On Arauco's Sucuriú project in Brazil, Angelini reported 60% progress, ahead of schedule and up from 50% previously. The US$4.600 million initiative is fully financed, with construction ending in Q4 2027 and full production in 2028.
He announced US$4.443 million in 2026 investments, including US$1.000 million in Chile, and criticized slow local permitting compared to Brazil. 'We cannot remain trapped in a labyrinth of regulatory approvals,' he said.
Regarding the fuel price hike announced late March, Angelini noted an initial sales drop that is normalizing. 'Copec is a price taker,' he clarified, with general manager Eduardo Navarro adding it is too early for firm conclusions.
