[NYTr] Cuba and Venezuela to Set Up Petrochemical Plant
 
Date: Mon, 15 Oct 2007 15:49:46 -0500 (CDT)

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Agencia Cubana de Noticias (ACN)
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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.
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