Braskem Launches New Petrochemical Plant in Brazil

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Researched by Industrial Info Resources (Sugar Land, Texas)--On April 25, 2008, Braskem (NYSE:BAK) (Camacari, Brazil) launched a new polypropylene petrochemical plant in Paulinia in Sao Paulo, Brazil. With the $411 million petrochemical plant, which has a 350,000-ton-per-day processing capacity, Braskem is now considered the third-largest resin producer in the Americas.

The plant was built as a joint venture between Braskem (60%) and Petroquisa (40%) in 2006. Last November, Braskem and Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil) formed a partnership in which Braskem holds 100% of the petrochemical plant and Petrobras holds a 25% stake in Braskem's assets.

The Paulinia Petroquimica plant was planned to produce polypropylene from refinery gas, supplied by REPLAN and REVAP refineries, both in Sao Paulo state. The plant will receive raw material from the two refineries. Petrobras is making investments of $210 million in REPLAN and Paulinia to construct a new propylene plant that will end on February 20, 2009; UTC Engenheria (Sao Paulo, Brazil) is in charge of the construction of this unit. REVAP refinery is also building a new propylene plant, in which construction will end on July 22, 2008. A consortium between UTC Engenharia and Odebrecht (Sao Paulo, Brazil) is carrying out the construction. UTC Engenharia holds 30% of this $166 million project, and Odebrecht S.A. holds 70%. For more details, view related August, 27, 2008, news article - Braskem and Petroquisa Jointly Construct Petrochemical Plant in Brazil.

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