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Published: Friday, July 31, 2009
Bylined to: El Universal
Venezuela government makes US$378 million payment to cement makers
 El Universal: In August 2008, the Venezuelan government signed agreements to purchase the subsidiaries of French building materials group Lafarge and Swiss cement group Holcim, and a year later it decided to pay partially for shares.
The government agreed to purchase the two companies for a total of $819 million, and as indicated by Diosdado Cabello, the Minister of Public Works & Housing, the two groups will get now more than 40% of the amount, equivalent to $378.4 million. "With this payment, the State officially takes possession of the companies."
 According to the state-run news agency, ABN, Cabello said that the remaining debt, amounting to $441million, will be paid in four years, without interest.
Meanwhile, house building remains affected by problems related to supply input ... the greatest difficulties are related to cement. Although the cement companies have been producing steadily, distribution has been difficult. Besides which, the government has instructed the cement makers to allocate the bulk of production to major works.
http://english.eluniversal.com/2009/07/31/
en_eco_art_venezuela-makes-usd_31A2569083.shtml
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