(Agencia Bolivariana de Noticias) - "The national government, through the Ministry of Basic Industries and Mining (Mibam, by its Spanish acronym), plans to establish a mixed company aimed at producing stainless steel along with the Cuban government.

The information was given by Minister José Khan, who explained that the company will combine the Venezuelan steel and the Cuban nickel.

According to the Minister, the company will start operation in about three years.

Furthermore, he explained that authorities of both governments are working on the basic engineering, details, visualization and conceptualization of the project, the minister said.

Bolívar and Anzoátegui states are the possible places that will house the stainless steel company, minister Khan added.

Minister Khan also stated that several industries are expected to be built in the next years in order to strengthen the real endogenous development in the country.

Khan pointed out that the government plans to sign an agreement with the Polytechnical Experimental National University of the Armed Forces (Unefa) to train the professional staff of the new companies and the social production companies, subsidiaries of the National Company of Basic Industries (Coniba)".