Chilean construction group Besalco is reactivating its property-sector plans and studying new energy-sector opportunities. Diversification enabled the company to double its profits in the first half of 2009, its general director, Paulo Bezanilla, noting that the capital increase of almost Peso$30bil planned for early September should give the firm the wherewithal to benefit from the economic green shoots he observes.
Besalco has begun the construction of the first stages of three housing projects this month via investment of almost US$20mil. One of the schemes is based in Puente Alto, the other two in San Bernardo. The property sector only provides 8% of operational income for the firm but the division is a very active one in both Chile and Peru (where in ten years Besalco has built 3,000 homes). Its Peruvian activities provide 20% of Besalco profits.
Publication: SABI - Business News
Provider: South American Business Information
August 29, 2009
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