Chile’s National Economic Prosecutor’s Office has launched an investigation into the US$484 million partnership between Aceros AZA and Compañía Siderúrgica Huachipato. The agreement aims to reactivate part of the Talcahuano plant's assets to focus production on green steel.

Huachipato will undergo a corporate reorganization to transfer its steelworks, two rolling mills, and 91 hectares to the new entity before merging with AZA. AZA has valued its assets and infrastructure at US$354 million and will assume leadership of the combined operation.

CAP, Huachipato’s parent company, will receive US$130 million through an equity stake, cash payments, and contingent payments tied to the project's progress. 

Additionally, it will retain options to increase the new joint venture's ownership from 15% to 20% and its board representation from one to two members.