The project committee said Chile's O'Higgins region will finance the first part of the studies, in order to tender them this year.
The Charlotte-based chemical giant said the request is based on a new technology that could sustainably increase production from its processing facilities in Chile.
The US$22mn initiative entails improving the port's main access and expanding its operational surface. Works are expected to take 18 months.
In a securities filing, Cesp said the government's privatization committee decided to "evaluate the relevance of eventual adjustments."
A total of 13 local firms are assisting the metro operator in providing equipment and personnel to carry out flood control actions.