Braskem and Pequiven Scale Back Venezuela Projects

Braskem (São Paulo) and Venezuela’s state owned petrochemical company Pequiven (Caracas) have reached an agreement to “evaluate a new model” for planned petrochemical projects in Venezuela. Proposed changes include scaling back the size of polypropylene (PP) and polyethylene (PE) investments, and possible relocation of the projects to western Venezuela, near the Paraguaná peninsula, where Pequiven and its parent Pdvsa have existing facilities. The changes are to “adjust the project characteristics to the new reality in the...

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