News Flash

Braskem plans advanced petrochem projects in Venezuela

26 Dec '07

3 min read

Braskem, in partnership with Pequiven, announces the creation of companies to install the most modern and competitive integrated petrochemical project of the Americas in Venezuela, the Jose Industrial Complex.

The announcement of the formation of these companies will be made this Thursday, 13, in Caracas, during a meeting between the presidents of Venezuela, Hugo Chávez Frias, and Brazil, Luiz Inácio Lula da Silva.

This initiative is a landmark in the strategic alliance between Braskem and Pequiven with the investment of nearly US$ 3.5 billion in two petrochemical units that will be as competitive as the best plants in the world.

It is also a decisive step by Braskem in its internationalization strategy with the objective of becoming one of the ten main petrochemical companies in the world.

Polipropileno del Sur - Propilsur will be responsible for building and operating a polypropylene unit with capacity for 450 thousand tons/year integrated to a propane dehydrogenation unit, which permits greater integration and operational flexibility to the project.

With this new scope, the investment is estimated to total nearly US$ 900 million. Propilsur is expected to start operations in the second semester of 2010.

Polietilenos de America - Polimerica will be responsible for the construction and operation of an ethylene cracker from natural gas with capacity for 1.3 million tons/year of ethylene, integrated to the production of 1.1 million tons/year of polyethylene, which will be carried out in three units: high density polyethylene, low density polyethylene and linear low density polyethylene.

This integrated project is estimated to cost US$ 2.6 billion and is expected to start operations in the second semester of 2012.

More Braskem SA News... More Textiles News - Brazil...