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Braskem ups Ethylene XXI stake

5:41 AM MST | January 25, 2013 | —Kara Sissell

Braskem has increased its stake in the Ethylene XXI project, from 65% to 75%, and Grupo Idesa has reduced its stake, from 35% to 25%, according to the Brazilian newspaper Valor Econômico. The change was made as part of a contract financing terms finalized last year, the report says. Braskem Idesa late last year 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...

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