Add $455 million to the tab
ICSID has ruled: Venezuela owes a further $455 million for the expropriation of Owens-Illinois’s bottling plants in Los Guayos, near Valencia and in Valera, in Trujillo state.
That may sound like a lot, but you have to set it off against the new, nationalized Venvidrio’s stunning profits.
At last year’s rate, Venezuelan presidents will be taking symbolic Venvidrio dividend checks up to the Cuartel de la Montaña for the next 500 years until the ICSID award is paid off.
And don’t forget Venvidrio’s stellar industrial safety and labour rights records.
Oy vey!
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