|
CARACAS, Venezuela (AP) - Venezuelan President Hugo Chavez said Sunday his government would invest $1 billion (euro830 million) in a new state iron and steel production company.
The new company would provide thousands of new jobs and ensure that the nation's vast resources would be used "efficiently and with responsibility," Chavez said without elaborating on his weekly TV and radio show.
The government has been seeking to gradually reduce the amount of primary aluminum and iron that it sells to foreign companies in an effort to promote local manufacturing.
|