President Hugo Chavez will sign the law nationalizing Siderurgica del Orinoco

Venezuelan President Hugo Chavez will sign tomorrow the law nationalizing Siderurgica del Orinoco, a unit of Luxembourg's Ternium SA, after the country's Supreme Court last week ratified Chavez's initial decree. Venezuela will pay a ``fair price'' for Sidor, as the steelmaker is known, Chavez said today during his ``Alo, Presidente'' television program. ``They have earned 20 times what it cost them,'' Chavez said, referring to Ternium, which the government has said is asking for $3 to $4 billion for the unit. ``That's grotesque. They think I'm an idiot, but they're wrong.''