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Message: hugo forms another company...seaports/a...

hugo forms another company...seaports/a...

posted on Mar 25, 2009 12:08PM

CARACAS (Dow Jones)--Venezuelan President Hugo Chavez signed two decrees Wednesday ordering the creation of a state company to manage the country's seaports and another for its airports.

The decision comes after Chavez took control over the weekend of airports and seaports that were under the administration of regional governments, some of which are opposed to his self-styled socialist revolution.

The new companies have to work under socialist guidelines and seek the development of the regions in which their respective seaports and airports operate, Chavez said.

Both companies will be part of the Infrastructure and Housing Ministry, Chavez said.

-By Darcy Crowe, Dow Jones Newswires; (58) 212 905 6304; darcy.crowe@dowjones.com

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