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Privatization/Concession | Government/Regulations | Iron/Steel
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MeneameVenezuela's basic industries and mining ministry (Mibam) is making progress on the machinery and equipment repairs needed to restart operations at briquette producer Matesi.
"A complete maintenance overhaul must be finished and we are in the process of starting up a module that will produce 500,000t/y, and afterwards will start installing the second module, which is dismantled at the moment," deputy Mibam minister Iván Hernández told BNamericas.
According to Hernández, the government has already taken control of the plant via a transfer committee that is working to restart operations, which have been stopped since November 2008.
He did not mention exactly when operations would resume.
Restarting Matesi operations includes bringing in third party personnel to work directly under Matesi management.
In August, the government took control of Matesi, 50.2% of which was previously controlled by Italian-Argentine group Techint and the remainder by steelmaker Sidor.
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