Braskem Idesa (BI) and Advario announce the formalization of their partnership, by virtue of which Advario acquired 50% of the capital of Terminal Quimica Puerto Mexico (TQPM), a company whose purpose is the construction and operation of a new ethane import terminal in Coatzacoalcos, Veracruz, said the company.
The total estimated investment for the project amounts to US$400 million. The new terminal will have an area of 1.
0 hectares for ethane storage connected to the BI petrochemical complex through an ethane pipeline of approximately 10 kilometers; it will have a storage capacity of 100 thousand m3 and will supply the ethane required by the BI plant to operate at full capacity. The project will have a positive impact on the southern region of Veracruz through the generation of approximately 2 thousand direct jobs, the contracting of suppliers and the creation of new logistics infrastructure for the area and the state.
The formalization of this partnership is a clear example of the commitment of both companies to focus on growth opportunities in the petrochemical sector, thus supporting the Mexican petrochemical and plastics industry.
We remind, Braskem and Indorama Ventures IOD - Oxiteno announce a partnership to supply bio-attributed ethylene from renewable sources, said the company. Bio-attributed ethylene, certified by ISCC (International Sustainability and Carbon Certification), will be used by Oxiteno to create new sustainable solutions.
mrchub.com