Venezuela mulls action against Cemex

Venezuela mulls action against Cemex
Published: 15 March 2010

Venezuela is considering legal action to force Cemex to return ships it removed from the country during a nationalisation dispute, Oil Minister Rafael Ramirez said on Friday .

He also said Venezuela was close to a deal to compensate Holcim and Lafarge which were also affected by the government’s 2008 takeover of the industry.

"We are close to announcing a deal with Lafarge and Holcim," Ramirez told reporters at a briefing that mainly touched on oil industry matters.

"We are taking legal actions to recover the boats that Cemex took from Venezuela, in the countries where they are."

An international court earlier this month rejected a request by Cemex to protect it from further expropriations by Venezuela after the 2008 takeover of its Venezuelan assets.