SÃO PAULO, BRAZIL (Aug. 31, 1 p.m. ET) — Braskem SA has inaugurated a PVC resin plant in Brazil that the group says is the largest in Latin America.
The plant in Marechal Deodoro, Alagoas state, has annual production capacity of 200,000 metric tons.
The Aug. 17 inauguration ceremony was attended by Dilma Rousseff, Brazil's president, and Teotonio Vilela Filho, the governor of Alagoas.
“The inauguration of this unit is fundamental for meeting demand from our Clients throughout Brazil operating in strategic sectors of the economy, such home building, sanitation and infrastructure. With this new plant, we reaffirm our commitment to the development of both the state of Alagoas and Brazil,” said Carlos Fadigas, Braskem's CEO.
The plant, which took two years to build, will create 10,000 direct and indirect jobs.
The investment of 1 billion real ($488 million) in the plant is the largest ever made for a single project since Braskem was founded 10 years ago.