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Venezuela Pequiven and Brazil Braskem for a JV to construct an ethylene and polypropylene plants



Petroleumworld
Porlamar, Venezuela
Petroleumworld.com 04 17 07

Venezuela and Brazil on Monday lay the keystone for new petrochemical complex, in a 50:50 joint venture between PEQUIVEN and Brazi's petrochemical Braskem.

The petrochemical complex to be constructed in the Jose Cryogenic Complex, near Puerto La Cruz in Venezuela will enhance the capacity to convert gas into liquid, liquid into solid, and solid into thousands of products.

The contract also involves the construction of an ethylene and polypropylene plants in Jose Complex.

US$3.4 billion will be investment outlay for the complex project that will exploit the region's fossil fuel resources.

Petroleumworld 16 04 07

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