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Mobile telephone manufacturer Bess Mobile Holding expects to open a mobile phone factory in Venezuela to produce devices for local mobile operator Movistar, the latter said in a statement.
The factory - which is expected to produce approximately 1mn mobile phones during the first year of operations - is being installed in capital Caracas. Once in operation, it will generate 300 direct jobs and 500 indirect jobs.
"We expect to start selling phones under the Bess brand in the short term," Bess Mobile Holding general manager Luis Núñez said.
Bess expects to produce GSM and CDMA handsets as well as 3G phones and modems. Movistar will offer several models ranging from low-cost to premium devices.
The factory required an initial investment of 53mn bolívares (US$24.6mn).