Russian Tecnopromexport expects to make a deal with Venezuela this year to build Uribante-Caparo, 500 MW-powerhouse.

CEO Sergei Molozhaviy made the announcement during a meeting with Venezuelan Minister of Energy and Petroleum Rafael Ramírez. The minister joined President Hugo Chávez on a working visit to Russia.

The company, Molozhaviy explained, is to complete an assessment of the project business component. Preliminary costs are estimated at USD 800-900 million, according to a press release from Tecnopromexport, quoted by Efe.

The corporation prepared and has delivered to Venezuelans a technical and economic feasibility study of the project. State-run electricity company Cadafe approved the building plan.