Brazil's Braskem to spend R1.6bn on new projects, turnarounds

14 May 2010 21:15  [Source: ICIS news]

SAO PAULO (ICIS news)--Brazil's petrochemical major Braskem plans to spend reais (R) 1.6bn ($904m, €723m) this year on starting up new projects and turning around existing plants, the company’s CEO said on Friday.

Braskem planned to spend about R254m on an ethanol-based polyethylene (PE) plant that it is building in Rio Grande do Sul, CEO Bernardo Gradin said in Portuguese.

The company also planned to invest R360m in Quattor, a company Braskem recently acquired, Gradin said.

Braskem will spend R72m on starting up its operations in Mexico, while R35m will go towards Braskem’s businesses in Venezuela.

Braskem will set aside R56m for its US operations, Gradin said. Braskem will spend R317m for scheduled turnarounds throughout the company.

Braskem will invest R52m to start building its polyvinyl chloride (PVC) plant in Alagoas, Gradin said.  

The project would increase Braskem’s PVC capacity by 200,000 tonnes/year.

Braskem’s current PVC capacity is 550,000 tonnes/year, while the capacity of its Alagoas complex is 250,000 tonnes/year. The new plant is scheduled to come on stream during the first half of 2012.

($1 = R 1.77)
($1 = €0.80)

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By: Hellen Berger
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