Volume 87 Issue 46 | p. 16 | Concentrates
Issue Date: November 16, 2009

Braskem Plans Big Mexican Complex

Department: Business
Keywords: Braskem, Mexico, oil

Brazilian chemical giant Braskem and Mexican chemical firm Grupo Idesa won an auction of feedstock from Mexican state oil company Pemex that they will use for a new petrochemical complex in Mexico. The venture, controlled by Braskem, plans to build a $2.5 billion ethylene cracker in Coatzacoalcos, Veracruz, by 2015. The facility will have 1 million metric tons of annual ethylene capacity plus downstream polyethylene plants. This isn’t the first time that Pemex has tried to spearhead a new chemical complex. Earlier in the decade, it linked with Canada’s Nova Chemicals, Idesa, and Mexican polypropylene maker Indelpro to build Phoenix, a cracker project that was ultimately canceled. Braskem is also planning petrochemical projects in Venezuela, Peru, and Brazil.

 
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