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Finance / Mexico

Chavez To Nationalise Cement Industry

April 2008 | Top Stories

On April 3 the President of Venezuela Hugo Chavez announced the nationalisation of the cement industry. However, it is now unclear what degree of nationalisation will take place. On April 7 the president stated that he would only nationalise those companies which had previously belonged to the state. 'We will only nationalize what was privatized, the large cement companies that were practically given away, the plants that were property of the state.' A statement by energy and oil minister Rafael Ramirez that Venezuela will force the cement companies to sell at least a 60% stake to the government has added

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