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Braskem and Idesa Advance Mexican Complex

8:58 AM MST | February 24, 2010 | Kara Sissell

Braskem and Idesa have approved a previously announced joint venture to build a $2.5-billion, 1-million m.t./year ethylene complex at Coatzacoalcos, Mexico. Braskem and will hold a 65% stake in the venture, Idesa 35%. Mexico’s state owned oil firm Petróleos Mexicanos (Pemex) so far does not have a stake in the jv, but its “participation as a minor and strategic partner in the project is still being studied.” Braskem and Idesa said last November  that Pemex had expressed interest in participating in the project.   Braskem and...

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