May
18, 2004
Ambassador: China to invest
US$300mn in Venezuela
(BNamericas.com) - "China's ambassador
to Caracas, Ju Yijie, said the Asian nation will
invest US$300mn to reactivate infrastructure projects
in Venezuela, state news agency Venpres reported.
Yijie made his announcement during a bilateral
cooperation meeting with Infrastructure Minister
Ramón Carrizalez Rengifo. The two governments
recently signed an economic and technical cooperation
agreement to renovate the west-central railroad.
Through the Ex-Im Bank, China is financing 80%
of the rehabilitation work for a section of the
Ferrocarril Bolívar railroad which runs
between Acarigua-Barquisimeto-Yaritagua-Puerto
Cabello. Repair work is being carried out by China's
Yankuang Group".
