CHILE: Steel for the South
In the presence of President Gabriel Gonzalez Videla and U.S. Ambassador Claude G. Bowers, Chile last week formally inaugurated its $88 million Huachipato steel plant, second largest in Latin America. Built with the help of a $48 million U.S. Export-Import Bank loan, the mill is the key unit in Chile's industrialization drive. Since its ultimate annual output of 350,000 tons is three times Chile's present needs, the plant will be able to help supply the needs of Chile's neighbors, will be of great strategic value in time of war.
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