Cuba and China to sign deals to boost nickel production on the island
This really interests me because of location. I wonder how great the Chinese influence is in Cuba?
-Am
Posted: 18 November 2004 0438 hrs
HAVANA : Agreements signed during next week's visit by Chinese President Hu Jintao should allow Cuba to double production of nickel from its current level of 75,000 tonnes a year, according to Cuban President Fidel Castro.
"These are big, big investments," Castro said in a four-hour televised address late Tuesday.
He said the Chinese investments would eventually mean that "nickel production, which is now of 75,000 to 76,000 tonnes (annually) -- will double."
He stressed that Cuba would retain 51 percent ownership of companies created with Chinese capital.
Castro said his Chinese counterpart would arrive in Cuba -- the only one-party, communist-ruled country in the Americas -- on Monday for a 48-hour visit.
Hu Jintao is currently in Argentina on a Latin American tour that already took him to Brazil and will continue in Chile, where he will attend a weekend summit of the Asia Pacific Economic Coperation countries.
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