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Business
Brazilian Complex Gets Financing
by Alexander H. Tullo
January 4, 2010
| A version of this story appeared in
Volume 88, Issue 1
PetroquímicaSuape, a subsidiary of the Brazilian state oil company Petrobras, has received a $1.5 billion credit line from Brazil's development bank BNDES to help it build a $2.3 billion chemical complex in the northeastern Brazilian state of Pernambuco. When it starts up later this year, the complex will consist of a 700,000-metric-ton-per-year purified terephthalic acid (PTA) plant, a 450,000-metric-ton polyethylene terephthalate (PET) unit, and a 240,000-metric-ton polyester filament yarn facility. The project will double Brazil's PET capacity and reestablish domestic production of PTA.
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