Metallurgical cos expect news from govt at sector conference

Venezuela's mining and metallurgical industry association AIMM expects the government to make announcements relevant for the sector at the 5th annual metallurgical conference to be held February 27-28. "It's very possible that the ministry of basic industries and mining [Mibam] will let us know then about its plans for three projects that will benefit the sector," AIMM president Eduardo Garmendia told BNamericas. Specifically, the official expects the government to reveal details at the event about the location and development of projects like the national steel company plant, a steel plate plant and long steel rolling facility. Although Venezuela's President Hugo Chávez announced in September 2007 that construction of the national steel company was beginning and will require investments of US$1.5bn, no advances have been made on the project and AIMM hopes to see signs of greater commitment from the government. At the time, it was announced that the plant would be located in Bolívar state's Ciudad Piar and would boast 1.5Mt/y production capacity including 300,000t/y coils, 900,000t/y rolled steel and 300,000t/y rounded bars. "But as far as we know, the areas where those plants will be installed have not been decided yet," the AIMM official said.