It is reported that Venezuela’s aluminum export is projected to slide to 1.4 million tonnes in 2009 from 1.6 million tonnes in 2008.

Bauxilum, the nation owned aluminum producer said that because of the slow demand and low price the company faced difficulty in seeking financial supports to expand its capacity.

According to Bauxilum, they expect to raise USD 284 million in 2010, and USD 80 million will be spent on replacement of old machinery.