(Updates with information from company)
SANTIAGO -(Dow Jones)- Chilean integrated steel maker Cap SA (Santiago:CAP) (CAP.SN) submitted the environmental impact study for a $460 million coal-fired power plant to supply some of its iron ore-producing installations, according to the local environmental authority's Web site.
The project, known as Cruz Grande, plans to have an installed capacity of 300 megawatts, through two 150-MW turbines, according to the environmental impact study.
The plant will be located on the main SIC power grid in central Chile and would take 52 months to complete, the company said in the impact study.
In a filing with the SVS securities overseer Thursday, the company said Cap would likely seek a partner in the project, a power generator, "which should carry out a substantial financial contribution" to get the project under way.
Chilean industries and power companies have been forced to find new energy sources since Argentina began cutting back natural gas exports to Chile in 2004. Argentine gas formerly fueled about 30% of all electricity generators in Chile, which sought to lessen its dependence on hydropower in the second half of the 1990s.
Company Web site: http://www.cap.cl
Authority Web site: http://www.seia.cl
-By Patricia San Juan and Carolina Pica, Dow Jones Newswires; 56-2-820-4244; chile@dowjones.com
(END) Dow Jones Newswires 06-12-08 1508 Copyright (c) 2008 Dow Jones & Company, Inc.
