Braskem begins construction on US$3.2B Ethylene XXI project in Mexico; JV facility includes ethane cracker, three polymerization plants, will have PE capacity of more than 1 million tonnes/year, to be complete by mid-2015

SANTIAGO, Chile , November 13, 2012 () –

Brazilian petrochemical company Braskem (NYSE: BAK) said it has begun construction of its Ethylene XXI project in Mexico, a joint venture with Grupo Idesa.

Braskem said the construction was on schedule and the giant olefins complex will be inaugurated in mid-2015.

The Ethylene XXI project, which includes an ethane cracker and three polymerization plants, will have annual polyethylene production capacity of more than 1Mt.

The project will require investment of US$3.2bn.
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