26 March 2002 01:01 [Source: ICIS news]
SAN ANTONIO, Texas (CNI)--The head of Mexico's state-run petrochemicals firm, Pemex Petroquimica, added ambitious details here Monday for Petroquimica's planned $1bn (Euro1.13bn) expansion and new capacity projects, saying he hopes to have some projects under construction later this year or early next.
Speaking here to a session of the 27th annual International Petrochemicals Conference (IPC), Petroquimica president Rafael Beverido Lomelin said the plans announced in late January by the administration of Mexico's President Vicente Fox are designed to "reactivate the Mexican petrochemical industry."
Plans for increasing capacity at Petroquimica's existing plants include:
New plant projects envisioned as part of Petroquimica's $1bn program include:
Beverido Lomelin said he hopes to move "very fast" on implementing all of these projects and is inviting interested equity investors to contact him. The refurbishing of Petroquimica's existing plants will be done solely by Pemex, but Beverido Lomelin said he is willing to consider up to 90% ownership by private investors in any of the new projects.
Sponsored by the National Petrochemical & Refiners Association (NPRA), the IPC concludes on Tuesday.
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