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Venezuela, Spain Form Aluminium
Venture
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.
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