CREC ……China Railway No. 10 Engineering Group Co. LTD. (CREG)

Venezuela and China agree to create joint venture for dredging the river Orinoco

Caracas, 17 Aug. AVN .- The Minister for Basic Industries and Mining (Mibam), Joseph Khan, met Wednesday with senior representatives of companies in the People's Republic of China, to further promote bilateral relations between both nations .

According to a press release, the countries agreed to create a joint venture to carry out dredging works in the Orinoco river channel to ensure its seaworthiness and will be made by the Corporacion Venezolana de Guayana (CVG), the National Institute of Pipes (INC) and a Chinese company.

The company will market as well as two inputs (washed sand and stone) to serve on the housing.

On the other hand, the meeting also advanced negotiations with the China Railway No. 10 Engineering Group Co. LTD. (CREG) to expand the capacity of office of Palua Pier, located in San Felix, Bolivar State.

CREG also be responsible for carrying out the repair of some mining equipment and railway FMO.

The owner of the portfolio of Basic Industries and Mining said the companies basic iron-steel sector can now access the disbursement of the Fund China-Venezuela Heavy, both in dollars and renminbi (Chinese currency) for the execution of different projects.

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http://www.avn.info.ve/node/73035

http://en.wikipedia.org/wiki/China_Railway_Engineering_Corporation

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