CVG, Huawei to Install Mobile Factory"

Venezuelan state-owned telco CVG Telecom and Chinese equipment manufacturer Huawei plan to jointly install a mobile phone factory in the South American country, local paper El Universal reported CVG Telecom president Julio Durán as saying.

Durán expects the factory to be producing within a year, with the eventual capacity to produce 1 million units annually.

By the end of 2007, the first Venezuelan-produced mobile handsets should hit the market, the report said.

According to the report, the location of the factory will be decided by mid-November, with duty free zones Paraguaná and Guayana, among others, being considered as options.

The deal was reached during Venezuelan President Hugo Chávez's visit to China at the end of August of this year.

CVG also has a deal with Chinese telecommunications company ZTE to build a 7,000km fiber optics network that is scheduled for completion mid-to-late 2007, BNamericas previously reported.

BNAmericas.com"

Posted to the site on 12th October 2006