Braskem, in partnership with chemical producer IDESA, has made progress on the construction of the integrated petrochemical complex for the production of polyethylene in the Coatzacoalcos region in the Mexican state of Veracruz.
By the end of September, the project's construction had reached 82% completion and is expected to begin production in fourth quarter of 2015.Higher sales volume and the Brazilian currency depreciating by 2% against the US dollar, helped Brazilian petrochemical producer Braskem clock 8% #
In the US, progress continued to be made on Ascent, the integrated project to produce polyethylene currently being evaluated by Braskem together with investors.
Ineos Technologies, LyondellBasell and Technip were chosen as the suppliers of the technologies to be used in the project.
These companies are also partners in the Mexico project, which should ensure commercial and operational synergies.
The Ascent project seeks to capture the opportunities provided by the significant cost advantage of using feedstock derived from shale gas.
During the quarter, Braskem received important recognition for its management of sustainable development.
For the third consecutive year, the company was included in the Dow Jones Sustainability Index Emerging Markets of the New York Stock Exchange (NYSE).
The Index is a benchmark for investors seeking investment portfolios formed by companies that have adopted best practices in sustainability. (AR)
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