Potential Braskem-Petroperu PE project could take 7 years

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)

By: Leo Siqueira
+1 713 525 2600

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