28 June 2011 22:06 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil-based petrochemical producer Braskem may invest over $4bn (€2.8bn) in the US and Mexico, according to a report published on Tuesday by Valor Economico.
The expansion in North America will place Braskem among the top five petrochemical companies by 2015, Valor said.
Braskem already has three polypropylene (PP) plants in the US, which have a total capacity of 1m tonnes/year.
Ultimately, Braskem plans to produce 5m tonnes/year of thermoplastic resins in the US, the same amount produced in Brazil.
Braskem’s project in Mexico with local petrochemical company Idesa would have initial investments of around $2.5bn.
Braskem plans to make acquisitions and build new units in the US and could be eying the county’s shale gas business with other local firms, according to reports.
($1 = €0.70)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections