Brazil, Bolivia Closer to Cracker

The presidents of Brazil and Bolivia both pledged their commitment to an ethylene and polyethylene complex based on Bolivian natural gas on their shared border, according to Brazil's government-run Agência Brasil. "Brazil wants to help enable Boliva to export products with greater added value to the Brazilian and international markets," says Brazil's president, Luiz Inácio Lula da Silva. The plant will be located near Corumbá, Brazil, and Puerto Suárez, Bolivia. According to published reports, Brazil's state oil company, Petrobras, says it will operate the $1.3 billion complex when it comes onstream around 2010. Other participants in the facility will be Brazil's Braskem, Spain's Repsol YPF, and Bolivian state energy company YPFB.