Sace Approves $600-Million Loan Guarantee for Ethylene XXI

Italian export credit agency Sace (Rome) says it has approved a guarantee on a $600 million loan granted to the 65-35 Braskem Idesa jv for the construction of Ethylene XXI, a 1.05 million m.t./year ethylene cracker planned by the jv for Coatzacoalcos, Mexico. Sace’s guarantee “will support the contracts awarded to Italian firms, including several small- and medium-size enterprises, for the engineering, supply and construction of the plant,” the bank says. The project requires an overall fixed investment of approximately $3 billion dollars...

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