Jose Petro Project includes 1.3 mn tons ethylene cracker
19 Apr '07
2 min read
Braskem announces that it signed with Pequiven, the main petrochemical company in Venezuela, an agreement aiming at the formation of two Joint Ventures to develop and implement in that country what is expected to be the most modern and competitive integrated petrochemical project in the Americas, named Jose Petrochemical Complex.
One of the projects includes the construction of an ethane cracker from natural gas with annual capacity of 1.3 million tons of ethylene, 1.1 million tons of polyethylene (PE) and other petrochemical products.
The second project involves the construction of a polypropylene (PP) plant with annual production capacity of 450 thousand tons, previously announced to be constructed in El Tablazo, but now to be developed in the same site as the Jose Complex, with estimated investments of approximately US$ 370 million.
Therefore, the Jose Complex will be more integrated increasing its competitiveness by capturing synergies in the implementation and operation, among other factors.
The association with Pequiven is one new step for Braskem in its strategic intent of becoming one of the 10 largest petrochemical companies worldwide, in terms of market capitalization.
The achievement of this strategic intent became more feasible with the recent acquisition by Braskem, in association with Petrobras, of Ipiranga Group??s petrochemical business, which allows for the future consolidation of the Triunfo Complex, located in the state of Rio Grande do Sul.
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