Venezuela, Brazil sign agreements on oil and infrastructure

[Judi Lynn]

Venezuela, Brazil sign agreements on oil and infrastructure
Venezuela is pondering the possibility to purchase up to 30 aircraft from Brazilian manufacturer Embraer
CARACAS, Monday June 06, 2011 | Update 1'

http://english.eluniversal.com.nyud.net:8090/2011/06/06/g_dilmachavez.jpg

Chávez hopes that South America becomes a zone of peace (Photo: Reuters)

The presidents of Brazil, Dilma Rousseff, and Venezuela, Hugo Chávez, agreed Monday to a financing of USD 637 million to build a shipyard in the state of Sucre, northeast Venezuela, for the member countries of the Bolivarian Alliance for the Peoples of Our America (ALBA).

Venezuela is also pondering the possibility to purchase up to 30 aircraft from Brazilian manufacturer Embraer, said on Monday an aide to Brazilian President Dilma Rousseff. Venezuela's state oil company Pdvsa and Brazil's Petrobras reached an agreement on Abreu e Lima refinery, said Brazil's foreign policy advisor Marco Aurelio Garcia.

Details of the agreement would be analyzed by business representatives at a meeting next week.

The shipyard to be built in Sucre state will be funded with loans to be granted by the Economic and Social Development National Bank (BNDES) of Brazil and Brazilian companies will take part in the construction of the work, under the agreement signed during Chavez's visit to Brasilia.

More:
http://english.eluniversal.com/2011/06/06/venezuela-brazil-sign-agreements-on-oil-and-infrastructure.shtml
Opposition newspaper