Sidor to increase steel production in 2005
Venezuelan steel producer Siderurgica del Orinoco C.A (Sidor) announced that it will produce a record 4.4 million tons of steel in 2005 as it expands its domestic sales.
Sidor, jointly owned by a consortium of South American countries and the Venezuelan government, plans to produce 3.7 million tons of steel this year. This figure is 200'000 tons lower than estimated because of output lost in a three-week strike that ended in May.
The company produced 3.1 million tons of steel last year, most of which was exported to Andean countries. However, Sidor is now selling more than half of its output to the domestic market, where steel demand has risen in various industries including oil and
construction.