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Braskem Idesa receives first tranche of financing for Mexican petchems project

9:44 AM MDT | August 7, 2013 | Natasha Alperowicz

Braskem Idesa, the joint venture building a petrochemical complex at Coatzacoalcos, Mexico, says it has received $1.5 billion in project financing, the first installment of the project financing, which will amount to $3.2 billion. The company says that the funds will ensure the continued progress of the gas-based petrochemical project, which will produce ethylene and polyethylene. Seven anchor institutions participated in the financing, including two multilateral agencies, the International Finance Corp. and Inter-American Development Bank; two...

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