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BNDES Approves $700 Million for Mexico’s Ethylene XXI

7:38 AM MDT | June 15, 2012 | —Kara Sissell and Deepti Ramesh

Expanding Triunfo: Braskem’s 200,000 m.t./year ‘green’ PE unit at Triunfo came online in 2010. Braskem Idesa says it has received $700 million in financing from BNDES (Rio de Janeiro), Brazil’s economic development bank. The line of credit will help finance Ethylene XXI, a 1 million m.t./year facility the jv is building at Coatzacoalcos, Mexico. The $700 million financing approval follows more than $600 million approved last month by the lnternational Finance Corporation (IFC; Washington) and the Italian credit bureau Sace (Milan). The...

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