Cuba to help build pharmaceutical cluster in Venezuela
- Submitted by: manso
- Business and Economy
- 11 / 18 / 2010
Cuba agreed to help Venezuela build a pharmaceutical cluster in that South American country, President Hugo Chávez announced.
The pharmaceutical cluster plan is one of 20 new projects — ranging from textile manufacturing, to producing medical equipment, plastic bags and construction material — the two countries launched two weekends ago during a bilateral meeting, as part of a 10-year extension of their decade-old Integral Cooperation Agreement.
The pharmaceutical complex will be built “with endless Cuban support, due to its great experience and capacity in the topic,” Chávez said after returning to Venezuela. He didn’t provide any details.
The two countries also agreed to create a joint venture company for assembly and repair for high-voltage transformers; one for maintenance and repair of oil drilling equipment; one for production of alcohol and other derivatives; one for repairs and maintenance of fuel tanks; another one for the maintenance of shipyards; to train Venezuelan personnel in shipbuilding and ship repairs; and to build a floating platform to pump fuel on tankers.
The partners also agreed to create an undisclosed number of sugarcane-cultivating and processing complexes, both in Venezuela and Cuba. There will also be joint production of bio-fertilizers, bio-stimulants, and bio-pesticides.