18 November 2013 06:10 [Source: ICIS news]
CARTAGENA, Colombia (ICIS)--The Braskem Idesa joint venture has started pre-marketing polyethylene (PE) in preparation for the start-up of the Ethylene XXI project in Mexico, an executive with Braskem said on Sunday.
The pre-marketing is part of a strategy intended to understand the needs of the market, said Luciano Guidolin, Braskem's executive vice president of polyolefins and renewables at the 33rd Latin American Petrochemical Association (APLA) annual meeting. The joint venture is not talking about any significant volumes.
Ethylene XXI is a joint venture made up of Brazil-based Braskem and Mexico's Grupo Idesa. It will produce 1.05m tonnes/year of PE from ethylene derived from ethane.
At $3.2bn (€2.4bn), Ethylene XXI constitutes the biggest private investment by a Brazilian company in Mexico.
Engineering is completed and procurement is nearly finished, Guidolin said.
By the end of this year, Ethylene XXI should be 50% completed, Guidolin said. It is on track for start-up in mid-2015.
The APLA conference ends on 19 November.
($1 = €0.74)
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