South African officials have met their Venezuelan counterparts to discuss a potential investment into the Venezuelan steel sector, said Venezuelan state-run TV channel, VTV.
The channel said a group of South African investors intends to invest in the local steel sector, adding that Venezuela has been trying to strengthen diplomatic ties with South Africa.
The Venezuelan government owns Siderurgica del Orinoco (Sidor), the nation’s key steelmaker, which has gone through a steep crisis over the past few years.