Venezuela- Brazil petrochem majors in JV?

Venezuelan state petrochemical majpr Pequiven and Brazil's Braskem have agreed to jointly carry out feasability studies for the construction of ethylene, polyethylene, polypropylene and PVC plants in Venezuela. The facilities would all be built in Venezuela's Jose petrochemical complex in the eastern state of Anzoategui. Pequiven and Braskem will arrive at a decision for the Joint Venture when the studies regarding technical issues, markets and financing for each of the plants will be completed by mid-2005.
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