Pequiven and Braskem's Undertakings in Venezuela Continue Without Inconveniences

---

Researched by Industrial Info Resources (Sugar Land, Texas)--Propilenos del Sur (Propilsur) and Polietilenos de America S.A. (Polimerica)--companies that are equally owned by Pequiven, the petrochemical company of Venezuelan state-owned Petroleos de Venezuela (PDVSA), and Braskem SA (NYSE:BAK) (Braskem) (Camaçari, Brazil), the Brazilian petrochemical company--continue to execute their projects for the construction of different chemical processing units at Jose Petrochemical Complex, in the Venezuelan state of Anzoategui, at a steady and secure pace.

Despite recent publications that say the undertakings might be delayed for about two years, construction continues without inconvenience on a 450,000-metric-ton-per-year polypropylene plant; a 1.3 million-metric-ton-per-year ethylene plant; and three industrial plants--high-density polyethylene, low-density polyethylene, and low-linear-density polyethylene--that will produce 1.1 million metric tons per year of polyethylene. The projects will be carried out within the time frames Industrial Info Resources has been reporting since early 2009.

The Polimerica and Propilsur projects also have been able to avoid nationalization by the Venezuelan government, which has forced private companies to form joint ventures with the government as minority partners in different chemical plants.

For more details view related, June 23, 2009, news article - Chemical Undertakings of Brazilian Company Not Subject Venezuelan Nationalization.

According to the owner companies, construction of the above-mentioned chemical plants continues as scheduled, and will be completed by the last quarter of 2014.

View Project Report - 69000208 69000209 69000210 69000211 69000194

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news.