Recently, it was announced that federal government has planned the Ethylene XXI project, and many corporations are showing keen interest in it.
One such Mexican conglomerate Alfa, one of the leading enterprises in the country, is also competing for this project.
Confirming the news to Fibre2fashion, sources from Alfa said that domestic and foreign companies will participate in an auction, to be held by state oil company Pemex, to supply 66,000b/d of ethane for 15 years for the complex.
Sources also said that this project, which is expected to need an investment of US $2.5-3 billion, will also include an ethylene cracker among others.
The project involves the construction of five plants in Coatzacoalcos, Veracruz state - one ethylene, one ethylene oxide, one polypropylene and two polyethylene facilities
Experts said that Government had taken this step so as to reduce imports of petrochemicals derived from ethylene and propylene as well as increase the feasibility of the petrochemicals industry.
Fibre2fashion News Desk - India
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