Venezuela Invests to Save
Steel, Aluminum Industries
CARACAS - The Venezuelan government
announced investment of 1,168 million
dollars to rescue the iron, steel and
aluminium companies affected by the fall of
prices as result of the world economic
crisis.
The resources for the Socialist Guayana Plan
will be used in the remaining year and in
2011 and 2012 divided in 384.615 dollars and
783.9 billion dollars, announced President
Hugo Chavez this week.
"Since the start of the national planning
(in 1958), this is the first time that a
plan for public companies is mapped out and
implemented", stressed Chavez.
An important characteristic of the
investment plan is that the funds will be
allocated to projects discussed by workers
from the companies involved in the project
and will be supervised by the workers
themselves.
The plan is aimed at developing production
and processing lines of finished products as
they are the ones that contribute more
benefits while Venezuela is devoted until
now to export raw material.
Taking into account the workers
recommendations, they also agreed to create
a special sub commission attached to the
Central Planning Commission for the
Implementation of this Plan.
Those investments, explained Chavez, will be
under the workers' control to help the basic
industries to pick up steam, bring them up
to date and solve many problems inherited
from the old Capitalist State and
privatization. |
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