Cuba and Venezuela to Set Up Petrochemical Plant

Cuba and Venezuela to Set Up Petrochemical Plant

Havana, Oct 14 (acn) Venezuelan President Hugo Chavez announced on
Sunday the installation of a petrochemical plant for the production of
oil by-products such as medicaments, cosmetics, clothes, and footwear in
the Cuban central province of Cienfuegos.

Chavez's statements were made at the pre-inauguration ceremony of the
Cienfuegos' Oil Refinery.

During the activity, Chavez said Cienfuegos could become a major
industrial center and talked about the advantages for the Cuban economy
of having a refinery with a processing capability of 65,000 barrels a
day in the first stage.

Chavez also noted that Cienfuegos' strategic position -south and center
of Cuba- will facilitate the transportation of products throughout the
island and abroad.

The Venezuelan Head of State manifested his satisfaction after touring
the Cienfuegos oil refinery and having a first-hand view of the
achievements attained in that facility by over 600 specialists from Cuba
and Venezuela.

The activity was presided over by Cuban vice President, Carlos Lage;
Basic Industry Minister, Yadira Garcia; Cuban Foreign Minister, Felipe
Perez Roque; and a large delegation of Venezuelan officials.

The Cienfuegos oil refinery was inaugurated in the 1980's and worked
unstably until 1995 when it was totally mothballed to conserve the
equipment.

In 2005, Cuban and Venezuelan companies CUPET and PDVESA assessed the
cost of reactivation of the refinery and started the works of which the
first stage is scheduled to conclude in December this year.

http://www.cubanews.ain.cu/2007/1015plantapetroquimica.htm