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• International
• North America
• Business and Economy
• 06 / 08 / 2007

Delaney said during the inauguration of two electricity generators in Boca de Jaruco, some 45 kilometers from Havana, that Sherritt's plan is to carry out "in the next three years an investment of 1.2 million dollars" and continue expanding the nickel, oil, electricity and gas sectors.

"Cuba is our favorite place in the world to work and we expect to have more years of association with your company", said the President of Sherritt International.

Among some of the participants to the event was Cuba's First Vice President Raul Castro, Vice President Carlos Lage and other high ranking government officials.

Lage expressed Cuba's priority in investing in generating electricity and the oil production on the island.

The Canadian company has important investments in oil wells on land and contracts for the exploration of four blocks in deep waters in Cuba's exclusive economic zone in the Gulf of Mexico.

In addition, both sides work jointly in the exploration of nickel and cobalt on the island. Last year, Cuba produced 74 tons of nickel.

Source: Radio Habana Cuba