Under the gaze of the entity’s governor, Ángel Marcano, and the Venezuelan ambassador to Mexico, Francisco Arias Cárdenas, the Mexican delegation toured to learn about the production processes of each company.
“Smells like privatization” was one of the comments that ran among Sidor workers, regarding the visit of Mexican parliamentarians. A press release from the Bolívar state government highlighted that its purpose was to consolidate “economic, political and strategic relations, to strengthen the economies of both nations.”
Under the gaze of the entity’s governor, Ángel Marcano, and the Venezuelan ambassador to Mexico, Francisco Arias Cárdenas, the delegation toured to learn about the production processes of each company.
Long live Mexico Long live Venezuela. Soon return to the homeland of Bolívar brother @PanchoArias2012 let’s keep winning with @NicolasMaduro pic.twitter.com/l8wCIMxIgH
– Angel Marcano (@amarcanopsuv) August 21, 2022
In this sense, Arias Cárdenas pointed out that contribution channels were established so that both nations “win through these potentialities and strengths,” he said without giving more details. On August 11, President Nicolás Maduro made reference to a possible privatization of Sidor.
Maduro highlighted in his speech that he was about to obtain a powerful foreign investment, “to put money into Sidor, technology, management capacity, to put Sidor at 100%.”
A capital that cannot be thrown away
A note published by Chronicle One, pointed out that the Unity in Coincidence movement, faced with rumors of a possible privatization of the Orinoco Iron and Steel Company, expressed that no serious investor has the capital to throw it away. “An investment decision of the caliber, dimension and complexity of Sidor requires rigorous and detailed studies and analysis of an operational, technical, technological, economic and financial nature”.
*Also read: “Those of us who live in a productive Sidor know that the company is not recovering”
Prevention delegate and member of Unidad en la Coincidencia, Carlos Ramírez added that it is also necessary to evaluate the availability of raw materials, supplies, services, markets, and competition. As well as the payroll of personnel and profile of human talent, mercantile liabilities, labor liabilities, environmental liabilities, history of production and economic results, operability, automation, process controls, productivity, profitability and financial capacity.
“It goes through evaluating the sufficient, reliable, quality, continuous and permanent availability of electrical energy, about 700 MW of power; natural gas, around 300 MMcfd (billion cubic feet per day); water and services”, highlighted Ramírez.
The movement stated that according to previous studies, it is estimated that the amount of investment requirements is around three billion dollars. Ramírez recalled that for years different technical commissions from Russia, China, Iran, Turkey and now Mexico paraded in Sidor. However, so far nothing has come of it.
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