CHILE: Dream Come True

Near a sandy beach in the Concepcion suburb of San Vicente, Chilean and U.S. engineers and technicians were working last week to make a 20-year-old Chilean dream come true. Two years ago, San Vicente had been a peaceful fishing village sought out by tourists for its seascapes and broad vistas of green forest stretching to the banks of Chile's largest river, the Bio-Bio.

Now, where fishermen's cottages had stood, workmen were building the blast furnace and rolling mills of Huachipato, the No. 2 steel plant in Latin America (No. 1: Brazil's Volta Redonda). Where...

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