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Braskem launches PP plant in Paulínia
01
May '08
This project consolidates the company's leadership in the Latin American market for PP.

The Braskem opens polypropylene plant in Paulínia, located in the State of Sao Paulo, adding 350 thousand tonnes per year to its production capacity of the resin which presents one of the largest growth rates of consumption .

The event counts on the inauguration of President of the Republic, Luiz Inácio Lula da Silva, who in February 2007 had attended the launch of the foundation stone of the unit.

"The project was completed in record time and with very competitive cost of investment, which demonstrates the ability to manage our teams in the implementation of new units," said Jose Carlos Grubisich, president of Braskem.

"This strategy of growth consolidates the company's leadership in the Latin American market for polypropylene and confirms its position of third largest producer of resins in the Americas as well as being a very important step in the strategy of Braskem being among the top ten global petrochemical",Says.

The unit of Paulínia, which was invested about $700 million, combines worldwide, updated technology and is at the centre of the main consumer center of the country, which confers a differentiated competitiveness to the project.

Originally, the venture was conceived as a joint venture formed in 2006, the Petrochemical Paulínia SA, in which Braskem had 60% of share holding and Petrobras, 40%.

Withthe Investment Agreement signed between Petrobras and Braskem and announced in November 2007, which consolidated the strategic partnership between the companies, Braskem took control of this unit with 100% of the capital. In that agreement, Petrobras will hold 25% of the capital of Braskem.

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