International Business
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U.S., Japanese Firms Back Venezuelan Project: The companies plan to invest $1 billion in a mining and railroad project in mineral-rich western Venezuela, according to project President Hector Silva Michelena. The project in Zulia, about 435 miles west of Caracas, will include coal and iron mining and construction of a railroad and port, Silva said, creating 3,000 jobs. He identified the companies involved as Tomen America of Japan, Peabody Holdings of the United States, and the Venezuelan-German consortium ASEA-Brown Brovery. British and Italian firms will also participate.
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