CVC issues infra. wishlist

In a report to celebrate its 60th anniversary the Venezuelan Construction Chamber (CVC) has outlined infrastructure needs to increase the competitiveness of the country's main productive sectors, Conapri, the Venezuelan investment promotion agency reported. Deep water ports are urgently needed according, to the study, to remain competitive in the international arena. Currently, Venezuela's ports have a 13m-depth-restriction preventing them from receiving the largest cargo vessels. Investment costs for port improvements are estimated at US$1.2bn. Investment budgets for the water and environment sector are one quarter of what they need to be says CVC. Average annual investment of US$674mn is required but only around US$171mn has been allocated in the last four years. Road improvements also figure prominently in the study, especially the high-profile Oriente, San Cristobal-La Fria and Jose Antonio Paez expressways. "Only 44% of the country's 96,000km of roads are asphalted," the report said, but the CVC is confident that road projects will receive budget allocations of around US$5.19bn during the 2004-2009 period, an average annual investment of US$853mn, five times greater than the US$175mn investment made in recent years.