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Construction is on track to begin in July of a plant in Caicara del Orinoco in Venezuela's Bolívar state for the nation's new aluminum rolling social production company Serlaca.
"Primary studies are being finished. After that we can proceed with plant design and construction," a spokesperson from Venezuela's basic industries and mining ministry (Mibam) told BNamericas.
The government aims for the plant to be finished by late 2009 and fully operational by early 2010, according to the official.
The Serlaca social production company will require a US$210mn investment and will have installed capacity of 114,000t/y, the spokesperson said. The figure is 30,000t higher than the 84,000t announced at the end of 2006 when the project was launched.
Of the total output, 54,000t will be tagged for special alloy production and the rest will be sent to the nation's automotive, naval, aviation and pharmaceutical sectors, the executive said.
The project is receiving technical assistance from national basic industries company Coniba and state oil company PDVSA, BNamericas previously reported.