Another agreement today:

China-Venezuela Agreement will allocate more than 5 billion dollars in the electricity sector



Of the 10 billion dollars for the first phase of the agreement of long-term financing that China gave to Venezuela, will be allocated 55 per cent, which is equivalent to 5.549 million dollars to the construction of four generating projects that will support the National Electric System (SEN).

According to a report by the Ministry of Planning and Finance, these projects will be implemented during the 2010-2012 period, with a share of 1.61% of Gross Domestic Product (GDP) in that span.

Among these is the power plant El Vigia, located in Merida, which will provide 550 megawatts to the national electricity system and to enter into open-loop operation (open impeller) in late 2011.

It also provides installation of the unit number 6 in Central Plant, the main thermal power of the country, with a contribution of 600 megawatts.

In addition, the agreement envisages the construction of the hydroelectric plant El Chorrin, located within the watershed of rivers of Guayana, which will generate additional 1,000 megawatts.

This negotiation, which includes the oil sector, will allow the foundation in the Orinoco Oil Belt, a petroleum coke plant (fuel similar to coal for industrial use), which will provide 600 megawatts to the SEN.

Likewise, the agreement signed between Venezuela and China will earmark part of the investment to the operation of self-generation plant of Petroleos de Venezuela (PDVSA) for providing energy to the El Palito refinery, located on the shores of Carabobo state.

The Vice President of Generation Management Company Limited and Electrical Development (Cadafe) clarified that the agreement total long-term financing amounting to 20 billion dollars, resources to be invested in various production areas of the country. The sector will benefit most from electricity generation.

The joint committee was headed by Venezuelan Minister of People's Power for Planning and Finance, Jorge Giordani, the Director General of the Strategic Monitoring and Evaluation of Public Policies of the Ministry of Power, Carlos Figueredo, the representative of Edelca María Carolina León and vice Cadafe Generation, Fabian Flores.

AVN
http://noticiero.venevision.net/index_not.asp?id_noticia=20100901002002&id_seccion=02