Sept. 28 (Bloomberg) -- Iranian President Mahmoud Ahmadinejad, in Latin America to bolster ties with U.S. critics, signed accords with President Hugo Chavez to build factories in Venezuela.

The two countries agreed to joint ventures for nine corn- processing mills and an auto parts manufacturing complex, the Venezuelan Information and Communications Ministry said in a statement. Iran and Venezuela also plan to develop methanol projects in both countries, the ministry said.

``Iran and Venezuela will always be together,'' Ahmadinejad said during remarks with Chavez at the presidential palace in Caracas.

Ahmadinejad is seeking to strengthen ties with Latin American nations critical of the U.S., visiting Venezuela, Bolivia, Nicaragua and Ecuador since 2005, as the U.S. pushes for stronger sanctions against Iran for its nuclear program. Yesterday, in Bolivia, Ahmadinejad signed accords for investments in energy, mining and rural development valued at as much as $1 billion by the Andean nation's Foreign Ministry.

The Iranian president arrived in Caracas late yesterday after approving the deals in La Paz with Bolivian President Evo Morales.

Venezuela's Information Ministry didn't disclose Ahmadinejad's schedule in the country or say who he met with. The ministry also didn't provide details of the accords or figures for their value.

Oil Projects

Ahmadinejad ended his visit to Caracas this morning, flying back to Tehran, according to Iran's government-run Islamic Republic News Agency.

Ahmadinejad has visited Venezuela three times, and pledged to invest $10 billion with Chavez on joint energy projects during his most recent trip in September 2006. The countries' state oil companies, Petroleos de Venezuela and Petropars, have begun drilling on a block in Venezuela's heavy oil belt, or Faja.

The two countries said last year they planned to spend $1.5 billion to build a petrochemical plant, and Iran has developed cement and car assembly plants in Venezuela.

To contact the reporters on this story: Alex Kennedy in Caracas at akennedy1@bloomberg.net;

Last Updated: September 28, 2007 12:59 EDT