Iran, Venezuela to construct Bolivian cement company
Published: Sunday, August 10, 2008
21:13GMT—5:13PM/EST
BOLIVIA – IRAN – VENEZUELA – CEMENT – DEAL
Washington, 10 August (IranVNC)—Iran and Venezuela have pledged at least $225 million to help Bolivia establish a state cement company. The money will fund the construction of its first two factories, reports Reuters.
The deal was brokered between Bolivian President Evo Morales, Venezuelan Ambassador Julio Montes Prado, and Iranian business official Hojjatollah Soltani, announced Bolivia’s deputy minister for small and medium businesses, Eduardo Peinado, yesterday, according to AFP.
Under President Morales, Bolivia, the poorest country in South America, has established strong ties with Venezuela, whose president, Hugo Chavez, has been consistently at odds with the U.S.
Since he took office in 2006, Morales has nationalized several flailing industries in Bolivia’s crumbling economy, including placing the natural gas industry and leading telecommunications company under state control.
The nationalization of cement production would undermine Morales’ political opponent, Samuel Doria Medina, who currently controls the industry.
“Some mayors have told me they haven’t been able to finish building projects because of a lack of cement (and) that prices have risen,” said Morales at an event for the launch of the cement company, Reuters reports.
Sources: Agence France- Presse, Reuters
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