Brazil's Odebrecht, Braskem to Operate US Petrochemical Project
For the Ascent project, Braskem will manage, operate and promote the petrochemical complex while Odebrecht would take care of the design and construction of the project.
In addition, Odebrecht should operate the utilities facilities for the water treatment and the power generation as part of its Utilities Division.
Braskem: Similar Project in Mexico
Analysts say that the project in West Virginia should be similar to the size that Braskem is developing with the Idesa group in Mexico, which is expected to become operational in June 2015.
Braskem Idesa signed in 2012 principal financing documents for the $3.2 billion project financing that is funding the construction and operation of a major petrochemical complex, which will be the most modern in the Americas.
In the Mexican complex, which includes a cracker and three polyethylene factories, each of the plants are expected to produce 300 thousand tons to 359 thousand tons of polyethylene per year, mainly for Mexico’s domestic market, since Mexico imports around 1.2 million tons annually.
Founded in 2010, Braskem Idesa is a petrochemical company that is developing the Etileno XXI Project which is expected to begin operations in the first half of 2015. The petrochemical complex will produce polyethylene, a feedstock for the construction, consumer, automotive and agricultural industries. In the American project Odebrecht should operate the utilities facilities for the water treatment and the power generation as part of its Utilities Division.
For the Ascent project, Braskem will also manage, operate and promote the petrochemical complex while Odebrecht would take care of the design and construction of the project.
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