On the sidelines of the business forum "Russia and Venezuela: Strategic Partners," held on October 28–29 in Caracas, a cooperation agreement was signed between the Russian foreign economic association "Tyazhpromexport" (part of the Rostec State Corporation) and the Venezuelan authorities. According to the document, "Tyazhpromexport" will undertake the restoration of one of the largest metallurgical enterprises in Latin America — the Sidor plant, located in the city of Puerto Ordaz.
Sidor's production facilities have been idle since 2018 due to a systemic crisis in Venezuelan industry. The plant's restoration involves the supply of equipment, modernization of technological lines, and the transfer of engineering solutions that meet modern standards of ferrous metallurgy.
The Russian side will also assist in personnel training and the adjustment of production processes.
This project will become a key element in expanding industrial partnership between Russia and Venezuela and may set the vector for similar initiatives in the field of heavy engineering and metallurgy.
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