Three Mexican firms plan JV for petrochemical complex

17-Nov-08
A three way joint venture is under plan by Mexico's leading petrochem companies- Idesa, Mexichem and Alpek-to construct a petrochemical complex in Mexico's Veracruz state by sourcing ethane gas from the state owned Pemex, ICIS news reported. The planned ethylene and derivatives complex is expected to take 4 to 5 years for completion and set to have ethylene production of 1 mln tpa. Also, the complex will have proposed downstream products including polyethylene (PE) and vinyl chloride monomer (VCM). The three companies have offered a bid to the state owned oil major's gas division for a long-term ethane gas supply contract.
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