Venezuela needs to invest in ailing electricity sector

Jul 30, 2001 02:00 AM

The Venezuela needs to invest $ 340 mm in the upgrade of its ailing electricity sector, the largest business chamber said. Venezuela's Commerce Chamber - Fedecamaras -- called upon the government to also include the private sector to develop an electricity sector that should guarantee all Venezuelans electricity supply.
According to the newly-elected president of Fedecamaras, Pedro Carmona Estanga, an estimated $ 6.5 bn over the next eight years is needed in fresh investment, he was quoted as saying.
The government has set aside $ 340 mm for the next two years but hasn't decided on which project the money should be spent.

Source: Petroleumworld
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