Venalum expansion program anticipates annual production increase to 3,000 tonnes

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Wednesday, June 11, 2003 By: David Coleman

Venezuelan Guayana Corporation (CVG) aluminum producing subsidiary Venalum is expecting annual production to increase to 3,000 tonnes in an expansion program just announced from CVG HQ in Puerto Ordaz.  The National Aluminum Development initiative forms part of the construction of Train 6 at Venalum and Train 5 at CVG Alcasa, included in plans for the construction of further processing plants in southeastern Bolivar State ... the new trains have an already installed capacity of 200,000 tonnes per annum but Venalum's capacity will increase to 600,000 tonnes and Alcasa to 410,000 under program details just made public.

Venezuela is attempting to secure its competitive position in world aluminum markets where it aims to achieve 6th position up from a current 10th in world rankings.

CVG Venalum is celebrating its 25th anniversary of productive operations with a 2002 balance of 17.304 billion bolivares (±US$10.8 million) and record production of 436,558 tonnes thanks to stable operations and increased foreign investment which has helped increase production, lowering costs and gaining wider sales.

• Venalum is a producer of primary aluminum in joint venture with 20% partner Japanese Showa Denko
• Alcasa in 92% CVG-owned in partnership with US Alcoa.