11 June 2012 18:40 [Source: ICIS news]
HOUSTON (ICIS)--Braskem Idesa, a joint venture between Brazil-based Braskem and Mexico’s Idesa, has secured a $700m (€560m) line of credit from the Brazilian National Economic and Social Development Bank (BNDES) for the construction of its Ethylene XXI project, the company said on Monday.
The company said construction for the project started on 18 May and is on schedule.
Located in the Nanchital region of Mexico’s Veracruz state, the Ethylene XXI project comprises an integrated ethane cracker and polyethylene (PE) units. The cracker will be based on Technip technology and have a 1.05m tonne/year capacity.
Planned downstream production includes two high density polyethylene (HDPE) plants with capacities of 350,000 and 400,000 tonnes/year and one 300,000 tonne/year low density polyethylene (LDPE) plant. INEOS is providing the HDPE technology, while LyondellBasell is providing the LDPE technology.
Additional reporting by Leela Landress
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