MEXICO CITY - The Colombian government is reported to have approved in principle the construction of a plant to produce ethylene and polypropylene. Colombian President Ernesto Samper was quoted in the international edition of Mexico's financial daily El Financiero saying that his administration will back such a project for the Caribbean port city of Cartagena, Colombia.
The government is considering different alternatives for financing the plan, generally involving joint ventures with the private sector.
Currently, Colombia has to import US$1 billion worth of those products a year.