Govts consider forming bi-national JV aluminum company
Bnamericas Published: Friday, August 21, 2009
The Venezuelan and Brazilian governments are considering the creation of a bilateral JV aluminum cable manufacturer, Venezuela's basic industries and mining (Mibam) minister Rodolfo Sanz said. If the two countries can reach an agreement, the plant will be located in Brazil and its output will be sold on the local aluminum cable market. "This sort of JV company lets us add value to our raw materials," Sanz said, adding that the idea is to manufacture aluminum cables for the Brazilian market and sell them for US$3,000-3,500/t. Right now Venezuela sells primary aluminum to Brazil at US$1,600/t. Venezuela is also considering supplying Brazil with aluminum and iron, in particular to Amazonas state, Sanz added. On August 19 some 100 Brazilian businesspeople began meetings in Caracas with their Venezuelan peers to discuss industrial integration projects.
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News in: Mining & Metals (Venezuela)
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