Braskem Idesa finalizes $3.2-billion financing package for Ethylene XXI

Work in progress: Complex at Coatzacoalcos is only Latin American project slated for start-up in near term. Braskem Idesa (Mexico City), a joint venture of Brazil’s Braskem and Mexico’s Grupo Idesa, says it has received final approval for a total of $3.2 billion in financing for the Ethylene XXI project, a 1.05-million m.t./year ethylene complex slated for start-up in mid-2015 at Coatzacoalcos, Mexico. The financing was structured by seven official agencies, which include two export agencies, one in Canada and another in Italy; two multilateral...

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