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Braskem Announces New
Petrochemical Project in Mexico
Braskem S.A. ("Braskem"), in compliance with CVM
Instruction 358/02iuWΨζ@K₯j, announces to shareholders and
the market that, in association with IDESA, a traditional Mexican corporate
group, it won the auction held by Pemex Gas, a state-owned
Mexican company, for the acquisition of ethane, which will be used as feedstock
for an integrated petrochemical project to be developed in that
country ("Project Ethylene XXI").
2008/2/23@LVR{AζρΜPhoenix project Jn
Project
Ethylene XXI,
which is scheduled to start operations in 2015 and will be
located in the Coatzacoalcos Petrochemical Complex in the Mexican
state of Veracruz, has the main objective of supplying Mexico's
domestic market, which is currently a polyethylene importer. The
Project will be installed and operated through a joint venture to
be created, with IDESA's participation and
controlled by Braskem. IDESA, a Mexican company with an
active presence in international markets, has three business
areas: Petrochemicals, Distribution and Construction Systems. It
operates several production and commercial companies through
strategic alliances of recognized prestige and that are leaders
in their respective markets.
Project Ethylene XXI will comprise
(i) the acquisition, at competitive conditions, of ethane from
Pemex Gas for a period of 20 years,
(ii) the construction of a cracker unit that will use the ethane
acquired as feedstock for the production of 1 million
tons/year of ethylene,
(iii) the construction of three integrated polymerization units
for the production of 1 million tons/year of
polyethylene.
The investment initially estimated for its implementation is up
to US$ 2.5 billion over the course of 5 years, with shareholders
planning to adopt a project finance model, with at least 70%
financed through debt and the remaining 40% with shareholders'
own capital. Braskem's board of directors has until December 2010
to come to a final investment decision.
Mexico currently imports over 1 million tons/year of
polyethylene. Project Ethylene XXI integrates and complements
Braskem's strategy to become a resins leader in the Americas.
September 20, 2008
Recently, it was announced that federal government has planned the Ethylene XXI project, and many corporations are showing keen interest in it.
One such Mexican conglomerate Alfa, one of the leading enterprises in the country, is also competing for this project.
Sources from Alfa said that domestic and foreign companies will participate in an auction, to be held by state oil company Pemex, to supply 66,000b/d of ethane for 15 years for the complex.
Sources also said that this project, which is expected to need an investment of US $2.5-3 billion, will also include an ethylene cracker among others.
The project involves the construction of five plants in Coatzacoalcos, Veracruz state - one ethylene, one ethylene oxide, one polypropylene and two polyethylene facilities
Experts said that Government had taken this step so as to reduce imports of petrochemicals derived from ethylene and propylene as well as increase the feasibility of the petrochemicals industry.
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Plastics NewsPosted March17 2010
Braskem signs $2.5bn deal with Pemex
Brazilian petrochemicals giant Braskem and Mexicofs Grupo Idesa have formalised an agreement with Pemex Gas y Petroquímica Básica to build a $2.5bn petrochemical complex in Coatzacoalcos, Mexico. The plans include an ethylene cracker and three polymerization plants.
In November, the two companies signed a memorandum of understanding with Pemex Gas y Petroquímica Básica, a subsidiary of state oil company Petróleos Mexicanos (Pemex), for the crackerfs feedstock. The cracker alone will cost $1bn.
But it was not until last month that the three parties sealed the deal in the presence of Presidents Felipe Calderón Hinojosa and Luiz Ignacio Lula da Silva, of Mexico and Brazil, respectively, by which time a decision to add the polymerisation plants had been reached.
The official signing ceremony took place at the conclusion of a summit of Latin American and Caribbean leaders, held close to Cancún, southeastern Mexico, in late February.
According to Idesa, of Mexico City, Braskemfs participation in the joint venture is 65% while Idesafs is 35%.
gThe participation of Pemex as a minority partner in the project is still being studied,h Idesa said on its Web site.
It is the largest single Brazilian investment ever made in Mexico and the biggest investment in Mexicofs petrochemicals sector in the last 20 years, it added.
Headquartered in São Paulo, Braskem is Latin Americafs largest petrochemical company.
In a separate deal, Pemex
agreed to sell Braskem 375,000 metric tons of naptha, a raw
material used in the production of basic petrochemicals that are
then converted into thermoplastic resins, Idesa said.
ICA Fluor Part of Joint Venture to Design and
Build New Petrochemical Complex in Mexico
Fluor Corporation announced today that ICA Fluor, the industrial engineering
partnership of Fluor and Empresas ICA, is part of the joint venture that was
awarded a multi-billion dollar engineering, procurement and construction
contract by Braskem Idesa. The joint venture
company, which includes Odebrecht, Technip and ICA Fluor, will design and build
the new Etileno XXI petrochemical complex in the
Mexican state of Veracruz. Fluor will book approximately $275 million into
backlog in the fourth quarter of 2012.
The new petrochemical complex will include a 1 million ton-per-year ethylene
cracker and two high density polyethylene plants. The joint venture project team
will utilize several operating centers around the world to execute the project.
ICA Fluor was part of the team that performed front-end engineering for the
offsites and facilities during 2011.
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2009/11/17@BraskemALVRΕProject Ethylene XXI πΐ{