Venezuela is proceeding with plans to nationalise its cement industry.
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The country has begun nationalising industries, including electricity and gas, as part of President Hugo Chavez's drive toward "21st-Century socialism".
However, the Venezuelan government made no mention of Mexican firm Cemex, the country's largest cement producer.
Details of the compensation talks have not been made public.
A spokeswoman for Lafarge said that the company was working to protect the interests of shareholders and staff based in the country.
President Chavez has accused foreign cement firms of demanding excessive profits and selling their cement overseas.
Taking them over, he said, would allow his government to progress faster with plans to end a massive housing shortage.
Venezuela aims to secure at least 60% ownership of cement companies and has said private companies can keep minority stakes.
Banking and telecommunications industries are also set to be taken over by the state.
(BBC)
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