Chinese company to build Venezuela port terminal

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

2 Sep 2010

Venezuela has signed an agreement with a Chinese company to build a new shipping container terminal at its largest cargo port. Venezuelan Transportation Minister Francisco Garces says expansion of the port at Puerto Cabello will allow it to handle cargo from much larger ships During a televised ceremony on Wednesday, Garces signed a memorandum of understanding with China Harbour Engineering Company to carry out the project. The terms of the agreement were not disclosed.
Venezuela has stepped up diplomatic and trade ties with China and President Hugo Chavez has increased oil sales to China.
Puerto Cabello is Venezuela's busiest seaport, handling most of the cargo that enters the import-dependent country.

Source: CNBC