Global financial crisis presses Braskem to defer construction of 2 plants

As yet another victim of the global economic meltdown and financial crisis, Braskem is considering postponing plans to construct two plants in association with Venezuela's state petrochemicals company Pequiven. Credit restrictions and weak thermoplastics demand forecasted for next year have been the key drivers for the nine month delay. Braskem had launched the venture with Pequiven in February to construct a polypropylene plant and a polyethylene plant in the José petrochemical complex in Venezuela's northeastern Anzoátegui state, at an investment of US$3.5 bln.
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