Brazilian state-owned energy firm, Petrobras and India's largest polymer firm, Reliance industries Ltd. (RIL) are in discussions for a possible joint venture involving construction of a petrochem unit in Suape port in Pernambuco state, as well as Comperj - a petrochemical complex in Rio de Janerio due to start operations from 2012.
The Suape port-based petrochem unit is most likely to see light of the day, and will shape the ground work for the 200,000 bpd Abreu e Lima refinery in Pernambuco state. Petrobras and its Venezuelan counterpart PDVSA, have an existing joint agreement to build Abreu e Lima in which the former will hold a 60% stake in the project.
20-Aug-08 
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