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Brazil Petrobras, Braskem eye $2.5 bln Peru plants
LIMA
Petroleumworld.com, May 18, 2008Brazilian firms Petrobras (PETR4.SA: Quote, Profile, Research) (PBR.N: Quote, Profile, Research) and Braskem (BAK.N: Quote, Profile, Research) may invest up to $2.5 billion in petrochemical projects in natural gas-rich Peru, officials said on Saturday.
Peruvian President Alan Garcia and his Brazilian counterpart, Luiz Inacio Lula da Silva, signed a series of accords that included commitments by the Brazilian firms to study the feasibility of building new plants that would tap into Peru's growing gas sector.
"For the fertilizer plant, or methane, we're talking about between $800 million and $1 billion and for the petrochemical plant, or ethane, this would be $1.5 billion," said Pedro Grijalba, head of Petrobras' Peruvian unit.
Petroperu, Peru's state-owned petroleum company, may participate in the construction of plants by the Brazilian companies.
Peru's government is trying to lure billions in foreign investment for its mining and energy sectors to reap the benefits of high commodities prices.
Story reporting by Terry Wade, editing by Todd Eastham from Reuters
REUTERS 17 05 08Copyright© 2008 respective author or news agency. All rights reserved.
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