Braskem Idesa finalizes $3.2 billion in financing for Ethylene XXI

Braskem Idesa (Mexico City), a joint venture of Brazil’s Braskem, and Mexico’s Grupo Idesa, say they have 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 startup in mid-2015 at Coatzacoalcos, Mexico. The financing was structured by seven official agencies, which include two export agencies in Canada and Italy, two multilateral agencies and three development banks in Brazil and Mexico. The funding package also includes 10 commercial banks, Braskem Idesa...

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