Polimerica awards reimbursable FEED contract for ethylene plant to Technip

Technip SA has been awarded by Polimerica, a reimbursable contract to perform the front end engineering design (FEED) for a new ethylene plant, planned with a capacity of 1.3 mln tpa. The ethylene unit will be part of a new petrochemical complex to be built in Jose, Venezuela, at an investment of US$3.2 bln. The FEED activities are scheduled to be completed by Q2-2011. Polimerica is a Brazilian-Venezuelan joint venture, owned 49% each by Venezuela’s state-owned Pequiven and Braskem of Sao Paulo, Brazil. Coramer, Caracas, and Sojitz, Tokyo, hold 1% each.
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