Advario to hold 50% stake at Braskem’s Mexico ethane import terminal
MADRID (ICIS)–The Netherlands-based engineering services provider Advario is to hold a 50% stake in Braskem’s ethane import facility Terminal Quimica Puerto Mexico (TQPM), the Brazilian petrochemicals major said on Tuesday.
Financial details were not disclosed.
The terminal, announced in March, is to be operated by Braskem Idesa and capital expenditure (capex) could reach $400m, Braskem said at the time.
The terminal is to have production capacity to process 80,000 bbl/day of ethane; construction was expected to start within the second quarter.
At the time of the announcement, Braskem said the facilities could start up in 2024.
The terminal will serve Ethylene XXI, Braskem Idesa’s integrated polyethylene (PE) complex in Coatzacoalcos, Mexico.
The Braskem Idesa cracker in Coatzacoalcos has 1.05m tonnes/year of ethylene capacity and downstream capacities of 750,000 tonnes/year of high density PE (HDPE) and 300,000 tonnes/year of low density PE (LDPE).
In an interview with ICIS earlier in June, the CEO at Braskem America said the company would aim to expand PE capacity at Ethylene XXI once TQPM neared its completion.
“The terminal project is on track, and we still expect that in the second half of 2024. In the meantime, our fast-track alternative method of importing ethane continues to be expanded and is operating extremely well,” said Mark Nikolich.
Braskem Idesa is a joint venture made up of Braskem (75%) and Mexican chemical producer Grupo Idesa (25%).