28 May 2013 10:41 [Source: ICIS news]
PARIS (ICIS)--No significant new capacity is expected to be installed in Latin America before 2021, the CEO of an industry consultancy said on Tuesday.
Speaking at the Latin American and Caribbean Petrochemicals Conference in Paris, France on Tuesday, IntelliChem CEO Rina Quijada said any capacity growth is likely to be confined primarily to the expansion of existing facilities and smaller developments, with no new large-scale petrochemical hubs expected to be developed before then.
“We don’t really see significant new capacity for petrochemicals in the region. We see expansions and grassroots facilities... through 2021. We see no new capacity of any significance in Latin America,” she said.
One key project likely to be completed near the region before then is the Ethylene XXI project in Mexico, being developed by Braskem and Idesa.The project is expected to be completed towards the end of 2015 or early 2016.
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