Columbia to set up integrated petrochemical and plastic cluster by 2010

Ten Colombian and overseas companies will be part of an integrated petrochemical and plastic cluster at an investment outlay of $150000 mln. The initial investment of US$150 mln will be spent on construction of infrastructure. By 2010, an additional US$50 mln investment will be needed for the plants of locators, which includes Sanford, Aditivos y Servicios Industriales, Surtiminas, Plasticos Rimax, Truher, Ciplas, Glormed Colombia and Polibarq. The cluster, located at the Mamonal industrial La Candelaria duty free zone in Cartagena, is expected to open in 2010. The strategic location of the complex provides companies better access to port facilities and faster deliveries because of its short distance to international markets; particularly USA, and raw material suppliers resin firms Propilco and Petco. Besides resin, the complex will source other raw materials from a Cartagena refinery co-managed by state oil firm Ecopetrol and Swiss partner Glencore.
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