Pequiven & Braskem sign MoU to set up petrochemical plant
18 Apr '06
1 min read
Pequiven, a unit of Venezuela's state-run oil firm PDVSA and Brazilian company Braskem have signed an MoU to build a petrochemical plant in Venezuela, according to CEO of Braskem.
This plant is designed to produce about 1.2 million tons of ethylene per year, he added.
An investment between $1.05 billion to $2 billion is expected while setting up the plant, states Jose Grubisich, CEO, Braskem.
Braskem and Pequiven are in discussion about the exact division of stake in the proposed project.
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