INEOS Technologies sells two polyolefins licenses to Venezuela's Polimérica S.A.

16-Dec-08

INEOS Technologies has recently signed two INEOS polyethylene technology licenses with newly formed Polimérica S.A., a joint venture between Venezuela's Pequiven and Brazil's Braskem. The two plants will form part of Polimérica's cracker and derivatives complex in José, Venezuela. Start-up of the complex is planned for 2013. Pequiven S.A. is state owned leading petrochemical company in Venezuela, and Braskem S.A. is world-class Brazilian petrochemical company, leader in thermoplastic resins in Latin America. The first of the two new facilities will be a 430,000 mtpa gas phase polyethylene plant using INEOS' Innovene PEg swing gas phase technology to produce linear low density polyethylene (LLDPE) and high density polyethylene (HDPE). The other will be a 400,000 mtpa slurry polyethylene plant using INEOS' Innovene PEs slurry technology for the production of HDPE.