Visiting Venezuelan President
Hugo Chavez on Friday unveiled a plan to construct a 1,000 kilometre-long
railway worth US$10 billion with aid from China.
"The building of the railway will bring great economic vigour to the northern
part of Venezuela," he told a press conference, where he also repeated his
ambition to boost energy ties with China.
But Chavez pointed out that the two countries' co-operation has expanded
beyond energy, noting that co-operation in the field of infrastructure was also
playing a very important part in the strategic partnership between the two
countries.
He said deals were also signed on US$1.22 billion loans from Beijing to build
20,000 homes and buy 18 Chinese-made oil tankers and 13 oil drills.
Wrapping up his stay in the capital with a series of agreements covering a
wide range of sectors on Friday, Chavez met top legislator Wu Bangguo and
Premier Wen Jiabao before flying to East China's Shandong Province to continue
his six-day visit.
Chavez hailed President Hu Jintao's remarks that China is considering and
dealing with Sino-Venezuelan ties from the strategic point of view and expressed
his appreciation for China's support for Venezuela's bid to join the UN Security
Council.
Chavez's Friday schedule also included a visit to the facilities where
initial work is being done on a communications satellite for his country.
Venezuela last year signed a deal with China for the satellite, which is
expected to go into orbit by 2008. There are about 29 Venezuelan students now
studying satellite technology in Beijing. With Chinese support, they will also
assist in the construction of a fibre-optics communications network in
Venezuela.
Being the world fifth-largest oil exporter, Venezuela seeks to become a
stable oil supplier for China at considerably cheaper price than its other
sources, he said.
He presented the reporters with a diagram, showing Venezuela's increasing oil
exports to China. "Five years ago, it was almost nothing but now China imports
150,000 barrels of oil a day and that number is growing," he said.
He said his country plans to export 500,000 barrels of oil a day to China by
2009. He also talked about the oil agreements signed on Thursday, dealing with
joint work to develop Venezuela's vast oil resources including the Orinoco oil
belt and the Sumano region.
(China Daily 08/26/2006 page2)