Braskem Delays Joint Ventures with Pequiven

Braskem will delay plans for investing in Venezuela’s Jose complex due to the downturn in global plastics markets, according to Brazilian press reports. Braskem says it will push back startup of the polypropylene joint venture with Venezuela state chemical company Pequiven until 2013, from the planned 2011 startup. The polyethylene (PE) unit will also be delayed two years, with startup now scheduled for 2014, reports say. The decision to delay the Venezuela projects is in response to trends in global plastics demand, which Braskem says will not recover...

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