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Venezuelan Government to Invest $20 billion in National Electrical Grid

The national government will invest US $20 billion in the development and expansion of the national electrical grid over the next five years, said the President of the Bolivarian Republic of Venezuela, Hugo Chávez.
 
During a special edition of the television program Aló Presidente to commemorate 10 years on the air, from the Zulia state, Chávez stated that this investment will increase national electrical output by 10,000 megawatts.
 
The president stated that during 2008 and 2009 more than US $5 billion have been invested in order to achieve the incorporation of more than 2,000 megawatts through the construction and refurbishing of thermoelectric plants.
 
“Last year with US $2.6 billion we achieved the incorporation of 1,380 megawatts, and for this year we will invest US $2.5 billion, which we estimate will incorporate 1,100 additional megawatts,” he said.
 
Chávez maintained that services like power and water, among others, cannot be privatized by the states, due to the fact that these are necessary elements for human development.
 
Likewise, this Thursday the second unit of Termozulia II was put into motion by President Hugo Chávez. The plant is in the Zulia state, and will produce 150 megawatts of energy to the electrical grid of Zulia.
 
Bolivarian News Agency, Press Unit of the Embassy of the Bolivarian Republic of Venezuela to the United States/ May 28, 2009

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