PEMEX Petroquímica and Mexichem entered into a joint venture which will enable greater competitiveness of the domestic petrochemical industry. The two have entered into a joint venture, which will enable greater competitiveness of the domestic petrochemical industry in the global market through the integration of a new company, which will create value to the Chlorine-Vinyl Chain. The Pajaritos complex is expected to produce in the first year 24,000 additional tons of vinyl chloride monomer, 146,000 tons in the second year, and in 217,000 tons in the third year in order to reach a capacity of 400,000 tpa, which in turn will generate proportionate increases in the production of all products related to the Chlorine-Vinyl Chain.
The joint venture includes a cash investment and assets contribution up to US$518 mln, of which PEMEX will participate with US$228 mln in assets while Mexichem will contribute with both, US$90 mln in assets and US$200 mln in cash in order to modernize the Pajaritos complex. Likewise, this joint venture will generate additional jobs in the region. Once the cash is contributed to this joint venture, the Pajaritos complex and Mexichem will increase all their products manufacturing related to the Chlorine-Vinyl Chain, eliminating soda imports, significantly decreasing the import of vinyl chloride monomer (VCM), and directly integrating the production and supply of chlorine to the complex. With all the aforementioned, the Pajaritos complex will become modern, efficient and profitable. It is important to emphasize that this joint venture will enable the development and improvement in efficiency of the domestic petrochemical industry, as well as guarantee the permanence of Mexican capital in the country, reducing reliance on imports and capital outflows to other countries.
13-Sep-13 
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