They consider that nationalizations have cost of $14 millardos

Pdvsa by the indemnifications to three oil ones would have to distribute $7.4 millardos and to the companies of services it must pay $800 million to them (File)

The decision of the Government to have the control on strategic areas is extended and in the course of this year more dominion has been exerted on the sectors oil and industrial.

The pending nationalizations to pay, as well as the new processes, have a cost for the National Executive of 14 millardos of dollars, according to estimations of Barclays.

That amount is equivalent to 74% of availability that is had of the Bottom of National Development (Fonden), that is 18.8 millardos of dollars, according to the numbers presented/displayed by the Central bank of Venezuela.

The investment bank in a report emphasizes that amount does not include the new actions that would be exerted in the area of petrochemical and which they are generated by the legal frame that is in revision in the National Assembly.

In the estimations of the company/signature one stands out that in the oil area the indemnifications that must realise to Exxon, Conoco and Eni would be in favor of the order of 7.4 millardos of dollars.

To the cementeras, Holcim, Lafarge and Cemex, must to them cancel near 2 millardos of dollars. In this case already the Government signed agreements with two companies, and one is in an arbitration process.

With Sidor already the cancellation of 1.9 millardos of dollars settled down that will be taken care of of way divided until 2010 and to the Bank of Venezuela 1.3 millardos of dollars will be given to him in cash and in promissory notes.

More purchases
To those processes now they add the acquisition of a rice plant, the nationalization of the briquet sector and the purchase of a ceramic company, that would imply the payment of 400 million dollars. On the other hand, the oil industry will have to cancel near 800 million dollars by the taking of control of several of the companies that serve connected to him. The payments can grow, because Pdvsa continues exerting the control exceeds more companies.

Part of the actions of the state one responds to the obligations that face their suppliers that to the closing of the past year were in 14 millardos of dollars. The company/signature considers that in the strategy of the corporation it turns out less expensive to delay the payments that to realise the cancellation of the debt.

In order to take care of these processes of nationalizations the Government has paid with slowness. The agreements registered the past year were begun to cancel in this period and the new ones do not have date of payment. Although the authorities have not given precisions, to take care of those obligations would be contemplated to use the special schemes.

marmas@eluniversal.com