Braskem and Pequiven Form JVs for Petchem Projects in Venezuela

Braskem (São Paulo) and Pequiven (Caracas) say they have formed two 50-50 joint ventures—Prolipropileno del Sur and Polietilenos de America—for a previously announced integrated petrochemical project at Jose, Venezuela. Prolipropileno will invest approximately $900 million to construct a 450,000-m.t./year polypropylene plant to be integrated into a propane dehydrogenation unit. The facility is expected to be operational in the second half of 2010. Polietilenos will invest $2.6 billion to construct an ethane cracker to produce 1.3 million...

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