Braskem- Brazil’s petrochemical major plans to focus on investments in Brazil in 2012, planning to spend around US$5 bln on new production capacities in the country, the CEO told local paper Valor Econômico. Projects include a naphtha-based polypropylene (PP) plant at Camaçari; a second ethanol-based polyethylene (PE) plant, the company's first green PP unit; and continued work on the Comperjpetrochemical complex in Rio de Janeiro. Braskem expects to invest a total of around US$4 bln in petrochemical plants at Comperj.
However, Braskem continues to eye opportunities in the US. The acquisition of PP assets in the US in 2010 and 2011, has consolidated its leadership in PP. Now Braskem is looking at business in PE. The firm continues to mull the size of the stake to acquire in PetroquimicaSuape polyester and PET resin project currently being built in the northeast by federal energy company Petrobras.