CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

China to help Venezuela build 3 power stations

07-30-2010 15:27 BJT

China will help Venezuela build three 300 megawatt (mW) electricity generating plants in return for oil deliveries under a long-term $20 billion financing deal, the Latin American OPEC nation said on Thursday.

Three months ago, Beijing said the China Development Bank had signed a "framework financing agreement" worth about $20 billion with Caracas, half to be paid in dollars and half in yuan, but gave few other details.

The Venezuelan government said 19 development projects had been agreed during bilateral talks in its capital on Thursday, including constructing the three power stations.

The Andean nation suffered severe electricity shortages during a drought this year that slashed hydropower production and led to power rationing in much of the country.

Venezuela's President Hugo Chavez says he wants to boost oil sales to Beijing and diversify away from the country's top customer, the United States.

Chinese energy companies are involved in developing the Latin American country's massive hydrocarbon reserves. In February, the China National Petroleum Company was awarded a stake in the Junin 4 block of its vast Orinoco extra heavy crude belt, which is seen as one of the biggest in the world.

Editor:Xiong Qu |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program