November 22, 2008

Brazilians ink support agreement for steel industry in Venezuela

ABN reported that delegates from Venezuela's ministry of basic industries and mining and the Brazilian embassy in the country have signed a memorandum of understanding to develop Venezuela's steelmaking industry.

The agreement involves cooperation in several processes like steelmaking, continuous casting and rolling.

The report added that both countries also plan to carry out studies to update and expand steelmaking infrastructure and operations.

The report further said that the agreement also includes technical assistance where Brazilian experts and technicians will train Venezuelan personnel in different steelmaking processes.