24 August 2011 22:15 [Source: ICIS news]
HOUSTON (ICIS)--BASF beat Elekeiroz to build Brazil's first acrylic acid plant, leaving the latter to reconsider what to do next, the Brazil-based producer said on Wednesday.
Both companies were considering acrylic acid projects at the Camacari complex in the state of Bahia.
Braskem would supply the plant with feedstock propylene.
The value of the project is €500m ($724m).
Elekeiroz decided to abandon its acrylic acid project because Brazil could not support two plants making the same product, O Valor reported.
With the loss of the acrylic acid plant, Elekeiroz will now revise its list of projects under consideration, the company told the Sao Paulo stock exchange (Bovespa). Such a review should occur in the upcoming months.
Possible projects to be reviewed include maleic anhydride (MA) and plasticisers, O Valor reported.
($1 = €0.69)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections