SÃO PAULO (Dec. 5, 10 a.m. ET) — Braskem SA and Petróleos Del Perú (PetroPerú) are studying whether to build a petrochemical project in Peru.
São Paulo-based Braskem and PetroPeru, the Peruvian national oil company. signed a memorandum of inderstanding on Nov. 24 to analyze the technical and economic feasibility of a plant capable of making 1.2 million tons of ethylene and polyethylene per year using ethane from the natural gas reserves in the Las Malvinas region.
"The creation of this partnership will drive economic and social development in Peru. The project's great advantage lies in its strategic location on the Pacific coast and its capacity to attend not only the Peruvian market, but also other countries in the Andean region," said Humberto Campodónico, CEO of PetroPerú, in a Nov. 28 news release.