The goal is to dredge the channel in order that higher draught ships are allowed for navigation and to develop a more profitable business activity CVG Venalum subscribed and agreement together with the Basic Industries and Mining Ministry, CVG, the Infrastructure Ministry, and the National Institution for Water Channelling, to allow the kickoff of the first phase of the project "Back to Design Depths of the Orinoco River Channel of Navigation ". In that sense, the President of Venalum, Jose Sequea, signed the covenant establishing that Venalum would join further agreements focused in taking the Orinoco navigation channel depth to 29 million cubic meters, in order that higher draught ships be allowed for navigation and to increase the business activity resulted from the use of such important channel. The initial money contribution given by CVG through its subsidiary companies such as Venalum, Alcasa and Ferrominera Orinoco reached to 5 million dollars allowing the kickoff of the first phase of the project that is expected to end by August, 2006. This way, CVG Venalum improves this strategical maritime axis where raw materials used for their production process are routinely unloaded, and also, secures timely dispatch to their clients located in different places of the world (News release by CVG Venalum)