Venezuela's state petrochemicals firm Pequiven and US oil major ExxonMobil plan to raise US$1.8bn for a 50/50 US$3 billion project to manufacture olefins.
The partners will contribute 40%, and will seek to finance the remaining 60%. Of the US$1.2 billion needed to complete the project, Pequiven's US$600 million has already been set aside. If all goes according to plan, the partners will break ground at the project site in the Jose industrial complex in eastern Venezuela "late 2006" with plant construction starting in earnest early 2007.
19-Dec-05 
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