Venezuela, Chavez expropriates private ferry company on Margarita Island

Posted on September 28, 2011 • Filed under: Business, TRAVEL, Venezuela

Venezuelan President Hugo Chavez, has re-signed an expropriation order for a private company. After nationalizing the gold industry and expel the Irish Smurfit Kappa de Venezuela, it is the turn of the Ferry Company Consolidated (Conferry). According to the president himself announced, the company, which operates on the resort island Margarita, northwest of the country, in the State of Nueva Esparta, will Venezuelan state-owned have declined in performance. “Today (Monday) approved the nationalization, expropriation and temporary occupation of the Ferry Company Consolidated,” said Chavez in a wiretap at the official channel VTV. Read Article

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