Braskem ups its equity in Mexican project

Brazilian petrochemical producer Braskem has increased its stake in its Mexican Ethylene XXI project from 65% to 75%. Mexico-based Grupo Idesa holds the rest of the stake.

The joint venture company, Braskem Idesa, is developing the project in Coatzacoalcos in the Mexican state of Veracruz.

The Ethylene XXI complex comprises a 1 million tonnes/year ethane cracker, two high density polyethylene (HDPE) plants with capacities of 350,000 tonnes/year and 400,000 tonnes/year, and one 300,000 tonnes/year low density polyethylene (LDPE) plant.

It is expected to start up by 2015.


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