The Vice President for the Economic Area, Tareck El Aissami, assured that in a few weeks a great economic revolution will begin based on production and the real economy.
“We are at a decisive moment. We are going towards a great economic Revolution (…) Venezuela will be an economic power in the coming months “said during the inspection to the work of the second production line of pellets, of the Ferrominera del Orinoco company, located in Puerto Ordáz, Bolívar State .
He assured that the activation of Ferrominera del Orinoco is the trigger for production in the other areas of iron transformation.
He explained that the work is 62% complete in physical execution and that it is financed by the Large Volume Fund of the People’s Republic of China, has an investment of 425 million dollars and should produce 3 million tons per year of pellets.
“Today we wanted to review, inspect, invest. We are now accelerating with the launch of this great project to produce 3 million tons of pellets year ”
It is estimated that the work will be completed in 12 months, when the production line will start operating.
In the plant the iron ore will be processed, pulverizing it and converting it into pellets, which pass to the bricketers to turn them into steel.
El Aissami said that after activating line two will begin a major maintenance of line 1, to reach its maximum productive potential, which would add 3 million additional tons, adding a total of 6 million tons of pellets per year capacity installed
Finally, he stressed that he will continue with the inspections of the basic industries and added that the working class is committed to reactivating the productive process and the development of the country.
