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Business

Braskem, Pequiven Detail Projects

April 23, 2007 | APPEARED IN VOLUME 85, ISSUE 17

Brazil's Braskem and Venezuelan state chemical company Pequiven have signed a letter of intent that advances two petrochemical joint ventures in Venezuela. One venture will build a $2.5 billion ethylene cracker and polyethylene joint-venture plant in Jose, Venezuela, by the second half of 2011. Braskem is also considering chlorine and polyvinyl chloride plants in Jose. The second venture calls for a $370 million polypropylene plant that was originally planned for El Tablazo, Venezuela. Additionally, Pequiven plans to build a propane dehydrogenation plant to make the propylene needed for the polypropylene unit.

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