Braskem Signs JV with Pequiven for Venezuela Projects

Braskem (São Paulo) says it has signed an agreement to form a previously announced 50-50 joint venture with Venezuelan state chemical company Pequiven (Caracas) to build an ethylene and derivatives complex at Jose, Venezuela. The companies plan to build an ethane cracker to produce 1.3 million m.t./year of ethylene, 1.1 million m.t./year of polyethylene, and other petrochemicals. Braskem estimates the cost of the ethylene and derivatives plant at $1.5 billion-$2.5 billion. Braskem says that it has also changed the location of a previously announced...

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