The project is being financed by the Chinese-Venezuelan Strategic Fund,
which was set up in 2008 to finance transport, energy and agricultural
projects.
which was set up in 2008 to finance transport, energy and agricultural
projects.
JV to build Venezuelan line
CHINA Railway Engineering Corporation (CREC) says it has formed a joint-venture company with the Venezuelan government to build a $US 7.5 billion east-west railway. The 468km line will start in Tinaco, 150km west of Caracas, running east through El Pao, El Sombrero and Zaraza to Anaco in Anzoategui state, and is expected to open in mid-2012. CREC will hold a 40% stake in the joint venture company that will construct the line, with the remaining shares being held by the Venezuelan government.
CHINA Railway Engineering Corporation (CREC) says it has formed a joint-venture company with the Venezuelan government to build a $US 7.5 billion east-west railway. The 468km line will start in Tinaco, 150km west of Caracas, running east through El Pao, El Sombrero and Zaraza to Anaco in Anzoategui state, and is expected to open in mid-2012. CREC will hold a 40% stake in the joint venture company that will construct the line, with the remaining shares being held by the Venezuelan government.
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