Cooperation between Brazil and Peru for 1 million tons of resin

Brazilian state chemical company Braskem and Peruvian state-owned petrochemical company PetroPeru recently signed a letter of intent to conduct a feasibility study on a joint petrochemical complex project initiated by the two companies previously announced. Luiz de Mondonca, vice president of Brazil's national chemical company, said that the completion of the study will take one year and costs about $5 million. It is understood that the two sides will invest about 3 billion U.S. dollars to build a resin plant with an annual capacity of 1 million tons on the Peruvian coast and plan to start production in 2017. The plant will be the only petrochemical production plant on the Pacific coast of Latin America.

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