Braskem, Pequiven Ready $3.5bn Petrochemical Venture

Braskem, Pequiven Ready $3.5bn Petrochemical Venture

Brazil

Brazilian petrochemical giant Braskem and its Venezuelan equivalent Pequiven said today they will create two companies to be based in Venezuela that will demand $3.5bn in investment. Prolipropileno del Sur will require a $900m investment for the construction of a polypropylene plant expected to be up in running in 2010. Polietilenos de America will build an ethane cracker with natural gas as feedstock that will cost an estimated $2.6bn and is expected to be operational in 2012. Braskem and Pequi

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