Ethylene XXI Receives Financing, Environmental Approvals

Braskem (São Paulo) and Grupo Idesa (Mexico City) say they have received final approval for $300 million in financing from the International Finance Corporation (Washington) that will help fund the Ethylene XXI project, a 1.05 million m.t./year ethylene and derivatives complex slated for startup in 2015 at Coatzacoalcos, Mexico. The financing package had been one of the last major hurdles for the jv partners and paves the way for construction work to begin on the biggest petrochemical complex underway in the Americas, the companies say. Total approved...

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