Industrial Steel Plan will consider that over 11 thousand jobs


Caracas, 06 Feb.-ABN. Steel National Strategic Plan will generate
more than 11,500 new jobs, said Eduardo Garmendia, President of the
Association of Metallurgical and Mining Industry of Venezuela (AIMM).

Andalusia realized these ads, Garmendia said, the current production
volume of iron ore in the country increased by over 36% in the coming
years, from the current 22 million tons annually to more than 30
million tons.

This extension and the installation of a new plant in the Pella area
Guiana allow the creation of 3,000 new jobs in the area, plus another
300 jobs in the construction of the plant, according to a statement
distributed by means of an AIMM press release.

Garmendia pointed out that "this ad not only reactive presidential
productive activity in the Guayana region, but also directly and
positively affects more than 300 member companies of our
association."

Therefore, for the Venezuelan metallurgical industry such notice
constitutes an opportunity for dialogue and strategic alliances with
our basic industries, both located in Guyana, such as Petroleos de
Venezuela (PDVSA) and its subsidiaries.

According to the representative of the AIMM "the capacity of liquid
steel in the country could increase by over 70%" by increasing the
production of Siderúrgica del Orinoco Alfredo Maneiro (Sidor) from 5
million tons / year 7 million tons, in addition to entering into
operation a new steel plant that will produce other 1.5 million
tons / year, and the installation of a production of stainless
steels.

The businessmen believe that with this expansion, the production
capacity of crude steel, will generate additional 8 thousand 500 new
jobs including downstream activities related to rolling profile rails
and large, plate-rolling facilities for large and thick a seamless
tube plant.

In the short term would turn Venezuela into a medium-power steel,
which would mean two things that are strategic significance: first, a
substantial decline in imports, thus saving foreign exchange, and
secondly, a significant expansion of manufacturing local.

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