Venezuela, Cuba initial 14 integration agreements

Venezuela, Cuba initial 14 integration agreements

Venezuelan President Hugo Chávez and Cuban First Vice-President of the
State and Ministers' Council Raúl Castro entered into 14 new agreements
on economic integration, including a memo of understanding to build on
the Cuban coast a petrochemical compound for about USD 1.3 billion.

"Upon signing of these agreements we make a significant contribution to
closer union and integration between Cuba and Venezuela," said Raúl
Castro during the ceremony.

Under the memo of understanding, a petrochemical compound will be built
in the city of Cienfuegos, 250 kilometers to the southeast of Havana,
Reuters reported.

During his visit last Sunday to the old refinery built during the Soviet
era and refitted with Venezuelan help, Chávez commented that the
investment in the facilities amounts to approximately USD 1.3 billion.

http://english.eluniversal.com/2007/10/15/en_eco_art_venezuela,-cuba-init_15A1131565.shtml