Israelis submit project proposal for diamond marketing exchange in Ciudad Guayana

<a href=www.vheadline.com>venezuela's Electronic News Posted: Monday, June 23, 2003 By: David Coleman

The Venezuelan-Israeli Chamber of Finance and Israel's Ambassador Arie Tenne have submitted a project proposal to the Venezuelan Guayana Corporation (CVG) to open up a diamond marketing exchange in Ciudad Guayana.  CVG president, Major General (ret.) Francisco Rangel Gomez says the initiative to establish a diamond marketing center in association with a diamond carving and polished school will be strengthened with an estimated investment of $14 million.

Israeli Embassy representative Carlos Sequera Yepez and Venezuelan-Israeli Chamber director Salomon Cohen say that a team integrated by Rangel Gomez, CVG mining vice president John Madero and CVG-Minerven resident Franqui Patines “are prepared to take up the challenge presented by such a project start as the diamond marketing center.“

The diamond center will provide added local value to raw material, and will support infrastructure planning for diamond industry development to avoid illegal trading, establish competitive prices, create regional employment opportunities and contribute greatly to foreign currency revenues.

• The project also contemplates technical assistance for small diamond companies and the integration of gold and diamond industries for jewelry manufacturing.

Rangel Gomez says the state-owned CVG heavy industry conglomerate will support investment projects for Guayana region development and regional welfare projects within the ambit of national interests ... a commission will be formed to evaluate proposals and feasibility in parallel with a similar project submitted by India's DGDC Corporation ... “the CVG aims to choose projects and investments that guarantee the best conditions for Venezuela, within sustainable exploitation parameters.”