Aclara Resources Inc (TSX:ARA, OTC:ARAAF) announced that its Penco Module project has been selected as one of the key initiatives in the Chilean government's newly revealed "Industrial Strengthening Plan" for the Biobío region.
According to Aclara, the plan is designed to boost the region’s economic growth after years of stagnation by accelerating private investment and enhancing institutional capabilities for investment approvals.
The Penco Module is among 25 large-scale projects included in the plan, representing a total potential investment of US$6.8 billion.
These projects are expected to create up to 5,000 jobs during their operational phases, contributing significantly to regional development.
The announcement endorses the Penco Module project for the Biobío region and the Chilean government, Ramon Barua, CEO of Aclara, commented.
“Aclara, in partnership with CAP, remains fully committed to the economic growth of the Biobío region and working closely with local communities and regional authorities to progress the development of the Penco Module,” Barua said.
“We remain focused on advancing the permitting process and are dedicated to working collaboratively with the SEA throughout the assessment and review process.”