13 April 2007 22:37 [Source: ICIS news]
RIO DE JANEIRO (ICIS news)--Braskem and Pequiven are expected to announce a joint venture agreement on Monday in ?xml:namespace>
A diplomat said that Brazilian President Luiz Inacio Lula da Silva will be in
"The presidents will not sign anything, they will just attend," the diplomat said.
Latin America's largest petrochemical company, Braskem, did not comment on the ceremony, but ICIS news reported in March that the company was planning a joint venture with
An industry source not involved with the deal confirmed on Friday overhearing that Braskem and state-run Pequiven were planning to formalise a joint venture.
According to Braskem chief executive officer Jose Carlos Grubisich in March, Braskem planned a 400,000 tonnes/year polypropylene venture with Pequiven due on-stream in 2009 and a 1.3m tonnes/year ethane-based PE complex planned with Venezuelan oil producer PDVSA.
The ethane/PE project has an on-stream date of 2011.
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