Braskem could invest in Angola petrochemical project - report

25 January 2010 20:40  [Source: ICIS news]

HOUSTON (ICIS news)--Braskem is considering investing in a petrochemical project in Angola, the chief executive of Brazilian parent conglomerate Odebrecht was quoted as saying in a local newspaper on Monday.

“It is a project that is still at an embryonic stage, but I can say it has conditions to be viable,” said Newton de Sousa, according to the newspaper Estado de Sao Paulo.

The executive said the project would be the responsibility of Braskem, an Odebrecht subsidiary, according to the newspaper. Braskem’s deal last week to acquire rival Quattor elevated it to the world’s eighth-largest petrochemical producer, and company officials said they wanted to reach the top five by 2020.

The article was translated by Macauhub, a Macau-based economic news service.

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By: Ben DuBose
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