The Venezuelan government has inaugurated a welded steel tube plant in the city of Simón Rodríguez, in the state of Anzoátegui, in order to reduce the country’s reliance on imports, a government news agency said.
The plant will help
Venezuela save USD 500 million per year in imports, while generating 4,000 direct jobs, the nation’s news agency, AVN, said.
AVN said Petropymi, a consortium of both private and state-run companies, have an 80 percent stake in the project, while state-run oil producer PDVSA has another 20 percent stake in the initiative. Petropymi is comprised of 21 small to mid-sized businesses.