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Braskem SA and Petroleos del Peru SA to build a $3 billion petrochemical plant

November 28/2011

(Bloomberg) -- Braskem SA and Petroleos del Peru SA said they will seek to build a $3 billion petrochemical plant on the Peruvian coast.

The plant, which may start producing 1 million metric tons a year of polyethylene by 2017, would be the only petrochemical plant on Latin Americas Pacific Coast, Braskem vice president Luis de Mendonca said today at the signing of a letter of intent in Lima.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS.

The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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