Volume 95 Issue 2 | p. 12 | Concentrates
Issue Date: January 9, 2017

Petrobras sells business at a bargain price

Department: Business
Keywords: Latin America, Brazil, polyester, Petrobras

The Brazilian state oil company Petrobras has agreed to sell Petroquimica Suape, an integrated polyester complex in the Brazilian state of Pernambuco, to Mexico’s Alpek for $385 million. The complex started up in 2013 at a cost of $2.3 billion. It has annual capacity to make 700,000 metric tons of purified terephthalic acid (PTA), 450,000 metric tons of polyethylene terephthalate (PET), and 90,000 metric tons of polyester fiber. Plagued by a massive corruption scandal in . . .

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