BRASKEM
Study to build cracker and PE complex in the US / Project led by shareholder Odebrecht / Option to purchase land from Sabic
Brazilian construction giant Odebrecht (Salvador; www.odebrecht.com) is considering building a PE production complex in Wood County, West Virginia / US. The company, the largest shareholder in resins producer Braskem (São Paulo / Brazil; www.braskem.com.br), said the complex would include an ethane cracker, three PE plants and associated infrastructure for water treatment and energy co-generation. Braskem would be responsible for petrochemical-related activities and commercialisation of the PE after the investment is completed.
Odebrecht has secured a purchase option on the proposed project site in the Washington area of Wood County. The site is currently occupied by a Sabic (Riyadh / Saudi Arabia; www.sabic.com) ABS plant, which the Saudi company has just announced plans to close it – see Plasteurope.com of 19.11.2013.
Odebrecht said the feasibility of the project, named Ascent (Appalachian Shale Cracker Enterprise), will depend on factors including the contracting of long-term ethane supply, financing and regulatory approvals. “As the USA’s leader in PP production and with a significant footprint already in the region, we are excited about today’s announcement,” stated Fernando Musa, CEO of Braskem America. “Should Ascent materialise, we look forward to serving our clients in the PE market.” West Virginia's governor, Earl Ray Tomblin, said in a statement: “Although we realise much work remains to be done, this announcement of a potential project is tremendous news for our state and our region.”
Odebrecht has secured a purchase option on the proposed project site in the Washington area of Wood County. The site is currently occupied by a Sabic (Riyadh / Saudi Arabia; www.sabic.com) ABS plant, which the Saudi company has just announced plans to close it – see Plasteurope.com of 19.11.2013.
Odebrecht said the feasibility of the project, named Ascent (Appalachian Shale Cracker Enterprise), will depend on factors including the contracting of long-term ethane supply, financing and regulatory approvals. “As the USA’s leader in PP production and with a significant footprint already in the region, we are excited about today’s announcement,” stated Fernando Musa, CEO of Braskem America. “Should Ascent materialise, we look forward to serving our clients in the PE market.” West Virginia's governor, Earl Ray Tomblin, said in a statement: “Although we realise much work remains to be done, this announcement of a potential project is tremendous news for our state and our region.”
20.11.2013 Plasteurope.com [226841-0]
Published on 20.11.2013