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Glavstroi Project in Caracas

Glavstroi, a construction company controlled by Oleg Deripaska, said Monday that it would build low-income housing in Venezuela.

Glavstroi plans to build 300,000 square meters of residential space in the capital Caracas by the end of 2012, spokeswoman Svetlana Andreyeva said, confirming a report in Kommersant. Construction costs are less than $1,000 per square meter in Caracas, the newspaper reported. 

(Bloomberg)

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