Release date- 12112012 - BRASKEM IDESA, a joint venture in Mexico formed by Braskem and Grupo Idesa, has begun building the structural components of the Ethylene XXI Project, which is the largest petrochemical project under construction in the Americas.
The first columns and beams that will support the equipment and tubing have begun to be installed. Once the complex is inaugurated, which is slated for mid-2015, Braskem will consolidate its regional leadership and become the largest polyethylene producer in North America as well.
Following the conclusion of earthmoving works and the progress achieved on installing the foundation piles and foundations, the project has entered a new phase involving the construction of the structures that will support the equipment. The electromechanical assembly phase is expected to begin in the first quarter of 2013. The construction project, which was begun in 2011, continues in line with the initial timetable.
BRASKEM IDESA recently announced that it entered into a contract worth over US$2.7 billion with the joint venture formed by Odebrecht (40%), Technip (40%) and ICA Fluor (20%) for the engineering, procurement and construction (EPC) phases of the complex.
The Ethylene XXI project, which includes an ethane cracker and three polymerization plants, will have annual polyethylene production capacity of more than one million tons. The project's construction is aligned with the Mexican government's strategy of increasing its industrial development in the region.
About Braskem Idesa
Created in 2010, Braskem Idesa S.A.P.I. is a joint venture between Braskem S.A. (Brazil), the largest petrochemical producer in the Americas, and Grupo Idesa, Mexico's leading petrochemical producer. The companies are jointly developing the Ethylene XXI project, which consists of the construction and operation of a petrochemical complex producing polyethylene located in the Mexican state of Veracruz. The project will require investment of US$3.2 billion and will begin operating in 2015.
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