Pemex okays Mexichem VCM jv

Mexichem (Mexico City) says the board of the state oil company Petróleos Mexicanos (Pemex) has a approved a joint venture that will double vinyl chloride monomer (VCM) capacity at Pajaritos, Mexico, according to a notice sent to Mexico’s stock market. Mexichem said last November that it was pulling out of the $556-million VCM manufacturing jv with Pemex because of a delay by Pemex’s board in providing the necessary approvals. The jv with Pemex is intended to reduce Mexichem’s dependence on third-party suppliers of VCM and provide Pemex’s petrochemical...

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