Chavez nationalises iron, steel companies

"There is nothing to discuss. We've been on this for a long time," Chavez said on Thursday in a televised address, ordering the beginning of "a process of nationalisation to create an industrial complex," but without providing details of the venture.

Chavez named Matesi, Consigua, Ceramicas Carabobo, steel tube maker Tavsa, as well as Orinoco Iron and Venprecar, subsidiaries of Venezuelan-owned International Briquettes Holding (IBH), which exports iron briquettes.

The announcement is the start of a "transition" so that these companies can become the "solid platform of socialism," he said.

"Venezuelan workers are going to give a lesson to the world on how the working class has been resuscitated to make a revolution!" he told industry workers in the western state of Bolivar.

The workers stood and sang the national anthem.

Since 2007, the Venezuelan government has moved ahead with the nationalisation of a wide range of companies from telecommunications, electricity, cement and oil sectors.