This paper deals with the project of construction of an industrial complex in the Rio Itata Valley, located in Bío-Bío Región, Ñuble Province, Ranquil Commune, Velenunque area, 54 kilometers North east from Concepción and 34 kilometers south west from Chillán. Ranquil commune or district, according to PNUD., is the least developed in the region and in the country. The proyect of "Empresa Celco Arauco y Constitución S.A." represents an initial investment of US $1.400.000. There is a strong opposition to the project because of the possible pollution that the complex might cause which would affect the sustainable development. However, the current country regulations have made the industrial project possible, this being a historical expectation. [ABSTRACT FROM AUTHOR]