Copene's new auction date

09 July 2001 00:00  [Source: ICB]

A fresh attempt is being made to sell Brazil's Copene petrochemical cracker with the country's Central Bank giving 15 July as the date for a new auction.

Petrochemicals investments in the area totalling $2bn are being delayed because of continuing uncertainty over the plant's future, said industry sources.

Analysts estimate that Copene, a naphtha cracker, requires investments of around $600m over the next five years to allow for planned ethylene production increases and other downstream projects.

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