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Friday, January 13, 2012

Venezuela Plans Redevelopment of Its Maritime and Port Facilities


Puerto Cabello declined after it was nationalized by Chavez in March 2009
Venezuela is pushing for an early redevelopment of its maritime and defense port facilities, neglected over many years and found to be lacking in basic infrastructural capacity.

Moves for the development and refurbishment of the country’s ports so far have attracted a major Chinese investor, China Harbor Engineering Co., which pledged an initial $600 million. More suitors are expected to follow CHEC to gain access to a key part of the oil exporter’s infrastructure.

Venezuelan President Hugo Chavez also signed agreements with Russia that are likely to result in supply and local assembly of a range of naval defense craft, including submarines, defense and security data showed.

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