Latin America's largest petrochemical plant to commence operations at Veracruz

22-Feb-16

The largest petrochemical plant in Latin America is just about set to begin operating in Nanchital, Veracruz, as per Reuters. The US $5.2 bln joint venture project of petrochemical companies Grupo IDESA of Mexico and Braskem of Brazil, Proyecto Etileno XXI will address a shortfall in the domestic supply of polyethylene. Over 65% of domestic demand for polyethylene is met by imports. Output from the new factory will replace about 1.3 mln tons of that, about 75% of the total.