The Cuban Minister of Industries, Eloy Alvarez.
Havana, July 21 (RHC)-- Cuba's Ministry of Industries (MINDUS) is projecting an investment plan for the current year of 4 billion 646 million pesos (about 200 million dollars), said its head, Eloy Alvarez.
In a report on the entity's performance before the National Assembly of People's Power, Alvares said that the plan is 17 percent fulfilled as of May, including more than 13 million dollars in foreign investment.
The main projects include the technological reconversion of the Antillana de Acero steel plant, the integral program for developing the graphic arts, and the new oxygen production plant for the eastern part of the island.
In addition, the Mariel glass joint venture, the Suchel TVB S.A. detergent company, and the start-up of another Suchel plant for hygiene and cleaning products, at the Mariel Special Development Zone (ZEDM) west of the capital.
The report states that the Ministry is sponsoring 25 joint ventures (19 joint ventures and 6 International Economic Association Contracts), including six users of the ZEDM.
Álvarez informed that in Mariel, there are five other companies with 100 percent foreign capital, which include six users of the ZEDM, and the Ministry of Industries is sponsoring 25 joint ventures (19 joint ventures and 6 International Economic Association Contracts).
Álvarez informed that in the ZDEM, there are five other companies with 100 percent foreign capital involved in industrial production.
During his presentation, he mentioned difficulties in the investment process.
In this respect, he referred to the suspension of governmental credits for the continuity of the projects, the effects on the logistics of international imports, limitations of resources, particularly fuel, and lack of construction supplies for civil actions.
