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SAO PAULO, Brazil — Brazil’s largest petrochemical company Braskem and Peruvian state oil company Petroleos del Peru have announced plans to conduct a feasibility study for a $3 billion petrochemical plant to be built on the coast of Peru, according to a press release.
The plant, which could be up and running by 2017, would help meet growing Asian demand for polyethylene.
The project is part of the $10 billion in energy investments expected by the Peruvian government to take place in the next seven years.