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(Plastemart) -- The Board of
Brazil’s state-run energy giant Petroleo Brasileiro SA (Petrobras) has approved
incorporation of two units at the Comperj refinery. With this, Comperj's basic
petrochemicals and PET producing units will become operational units of
Petrobras. Shareholders will vote to approve the change at a meeting that will
be scheduled for a later date.
Plans for the Comperj refinery have been altered by Petrobas because of
high construction costs and global excess petrochemicals production capacity.
The initial outlook for the Comperj refinery when it was first approved has seen
changes in light of economics, market dynamics and costs, which led to a new
configuration transforming Comperj in a new project comprising three steps and a
new timeline. Petrobras faced glitches finding partners for the project, which
was originally designed as a US$8.5 billion standalone petrochemicals plant
mrcplast.com
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