Consortium of foreign companies mull petrochemical plant in Peru

20-Oct-07
A consortium of foreign companies is mulling investment of US$1 bln to build a petrochemical plant in Peru as the government lures investment to the nascent sector. Australia's Orica Ltd., U.S. firms Terra Industries Inc and Omimex Resources, and Colombia's Abocol, have been in discussions with Peru's President to build a plant near Pisco, a city destroyed by a powerful earthquake in August. Peru's economy grew at its fastest rate in over a decade in 2006, helped by booming mining and agricultural industries. Several companies from across the globe have been expressing interest in investing in new petrochemical plants, including South Korea's SK, Brazil's Petrobras, France's Suez Energy, Grupo Gloria, India's Oswal Group.
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