Brazil's Petrobras seeks partners for Suape petchem complex

01 June 2011 22:08  [Source: ICIS news]

SAO PAULO (ICIS)--Brazil's energy giant Petrobras is seeking partners to invest at its Suape Petrochemical Complex, the company said on Wednesday.

Reliance and Braskem are among the companies interested so far. However, Petrobras did not release further details about other possible investors.

The project, to be in the northeastern state of Pernambuco, is worth approximately Brazilian reais (R) 5bn ($3.1bn, €2.1bn).

Suape will have a production capacity of more than 940,000 tones/year of petrochemical products such as purified terephthalic acid (PTA) as well as polyester and other resins.

The project’s goal is to reduce the country’s import needs for those products, Petrobras added.  

($1 = R1.59)
($1 = €0.69)

By: Hellen Berger
+1 713 525 2653

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