29 December 2011 00:39 [Source: ICIS news]
PORTO ALEGRE, Brazil (ICIS)--A proposed integrated polyethylene (PE) complex by Peru-based refiner Petroperu and Brazil's Braskem could begin operating in seven years, Braskem said on Wednesday.
In November, Petroperu and Braskem signed a memorandum of understanding to study the viability of a 1.2m tonne/year PE and ethylene complex that would use ethane as a feedstock. The project could cost $3bn (€2.3bn), a source close to Braskem said.
Petroperu said earlier is planned to offer 20% of its stock on the local stock market to help finance a stake in the project.
($1 = €0.77)
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