04 December 2012 10:57 [Source: ICIS news]
LONDON (ICIS)--Maire Tecnimont has been awarded a $191.4m (€147.4m) engineering and procurement contract for a low-density polyethylene (LDPE) plant being developed by Brazils' Braskem and Mexico's Grupo Idesa, the Italian petrochemicals engineering firm said on Tuesday.
The planned 300,000 tonnes/year LDPE plant will be constructed within the Ethylene XXI petrochemical complex being developed near Veracruz, Mexico, by the Braskem Idesa joint venture.
Maire Tecnimont estimates that its engineering and procurement activities for the plant will be concluded by the fourth quarter of 2014. The plant will be built using technology developed by LyondellBasell.
The Ethylene XXI complex is expected to include a 1.05m tonne/year ethane cracker, two high density polyethylene (HDPE) plants with capacities of 350,000 tonnes/year and 400,000 tonnes/year, and one 300,000 tonne/year low density polyethylene (LDPE) plant.
The total cost of the Ethylene XXI complex project is $4.5bn, including construction costs of $3.7bn, plus working capital and interest. The complex is expected to begin operations in June 2015.
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