Venezuelan President Hugo Chavez nationalized all movable and immovable property of Fertilizantes Nitrogenados de Oriente, which is one of the world’s largest manufacturers for the production and processing of nitrogen fertilizers. This was written on Monday on the website of the state television of Venezuela.
The Venezuelan leader made the corresponding statement on the air of a weekly television radio program called “Hello, President!”. Then Hugo Chavez announced the nationalization of Venoco, which is another significant participant in the Venezuelan chemical industry market. So Chavez emphasized that in the near future he also intends to nationalize some other enterprises of this industry, which are related to Venoco.
According to the Venezuelan President, each of these two nationalization companies was engaged in speculative operations. So, for example, they unreasonably overstated the prices for their products. Therefore, harsh measures taken towards them are necessary for the successful continuation of the construction of socialism in the country, as well as strengthening its sovereignty.
Recall that Fertinitro is founded with the participation of enormous funds by an American energy giant and a subsidiary of the Italian Eni, Saipem Corporation.
So the Venoco company produces and sells brake fluid, lubricants and many other similar products intended for cars.
Since 1998, the Venezuelan government has been nationalizing the largest companies that work in the most important economic sectors. So, for example, the largest Sidor steel enterprise in Venezuela was nationalized, the oil fields, the cement industry, the telecommunications and communications industry, as well as more than 2.3 million. hectares of land with fertile soil.
Only over the past week, the Agroflora company, which is a branch of the English food giant Vestey, by decision of Chavez, lost three thousand hectares of land and one hundred and twenty thousand heads of cattle, which, by order, went into the property of the Venezuelan state.
The last decision of the Venezuela leader is part of the program for the development of the petrochemical complex, which was announced in 2007. A year later (2008.), during his speech on Sunday television and radio transmission “Hello, president!”Hugo Chavez made a statement according to which Venezuela from the oil exporter will turn into the largest manufacturer of various mineral fertilizers throughout Latin America in the next five years.
