Bolivia

Venezuela

Trinidad
&
Caribbean

Venezuela, Spain Form Aluminium Venture

Prensa Latina
CARACAS
Petroleumworld.com 06 11 06

Venezuelan Basic Industry and Mining Ministry and Spanish System Fuss will create a joint venture for processing aluminium by-products, the Bolivarian News Agency announced Friday.

Venezuelan Basic Industry and Mining Minister Victor Alvarez and Spanish representative Luis Alberto Galiana signed a letter of intention for the 100 million dollar project, which fundamental objective will be to recuperate slag, thus reducing the environmental impact caused by aluminium producing companies.

The plant will be located in Puerto Ordaz, Venezuela, with a capacity of 50,000 tons a year.

The Venezuelan government will have 51 percent of participation and System Fuss 49 percent of the venture that will generate 200 direct and 1,000 indirect jobs.

Five percent of the utilities will be destined to finance community projects.

Prensa Latina 10 06 06

Copyright ©2006 Prensa Latina. All Rights Reserved.

 

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