CANTV COMMUNICATIONS

closed

The project proposed for bank financing would consist of: (A) Approximately 107,000 lines of automatic exchange equipment and related facilities. (Of these, only 53,000 lines would be financed out of the proceeds of the proposed loan.) (B) Approximately 348,000 kilometers of long-distance circuits, provided by means of the installation of carrier equipment, cables, radio and open-wire circuits. (C) Installation of direct long-distance dialing equipment between 29 cities. (D) A submarine cable between Venezuela and St. Thomas, Virgin Islands, where it would connect with an existing submarine cable to provide telecommunications facilities with the U.S.A. (CANTV is to acquire an indefeasible right of use in the existing north section of the cable.) (E) Telex switching facilities for approximately 1,200 lines. (F) A headquarters building in Caracas. (G) Consultants for review of the CANTV's rate structure, planning its future expansion and improving operating methods.