First Cuban-Russian joint-venture enterprise to be created

First Cuban-Russian joint-venture enterprise to be created
First Cuban-Russian joint-venture enterprise to be created

(RCM Redaction)

The first joint venture between Cuba and Russia for the production of applicable composite materials will be established in the Mariel Special Development Zone (ZEDM), according to an agreement signed in Havana.

For this, a factory will be built in the ZEDM, taking approximately one year, and will produce glass fiber bars and mayas, a novel material used as a complement to steel in construction.

The new joint venture is the result of a partnership between the Cuban Mercantile Society Siment Aut S.A. and the Russian firm United Composite Technologies, Granma newspaper published.

The general directors of both entities assessed this collaboration as crucial, which will also allow getting technology, software and will have great social impact.

The constitution of this joint venture will also boost productions for the Caribbean, experts from the Mercantile Society Siment Aut S.A. asserted.

Jose Gaspar Alvarez Sandoval, Cuba´s Deputy Minister of Industry, said that despite desperate attempts by the United States to stop commercial collaboration between Cuba and other countries, nothing stops the partnership between Cuba and Russia.

For his part, Vasiliy Sergeevich Osmakov, Deputy Minister of Industry and Trade of the Russian Federation, reiterated they disagree with the extraterritorial policy of the United States and will not allow this to halt this agreement between Cuba and Russia, even if it implies sanctions for his country.

(Taken from ACN)

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