Brazil's Braskem to spend $5bn for local projects in 2012

27 December 2011 22:24  [Source: ICIS news]

PORTO ALEGRE, Brazil (ICIS)--Brazil-based petrochemical producer Braskem plans to focus on local projects in 2012, the company said on Tuesday.

The company will spend about $5bn on projects like a polypropylene plant at the Camaçari petrochemical complex, a green polypropylene plant and a green polyethylene plant, Chief Executive Carlos Fadigas told Brazilian newspaper Valor Economico.

The company will also invest in plants at its Comperj facility in Rio De Janeiro, the report said.

Braskem did not disclose any other information about the projects. 

“Our strategy will not be different than in the current year, but our priority will be Brazil,” Fadigas told Valor.

Additionally, Braskem is still considering the size of the stake it may acquire in the PetroquimicaSuape polyester and polyethylene terephthalate (PET) resin project being built in northeast Brazil by state-run oil company Petrobras, the report said.

For more on Braskem visit ICIS company intelligence

By: Leo Siqueira
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