Braskem Idesa awarded EPC contract for the Etileno XXI project

MEXICO CITY -- Braskem Idesa S.A.P.I. awarded to a joint venture formed by Odebrecht, Technip and ICA Fluor a contract worth more than US$ 2.7 billion for the engineering, procurement and construction of a petrochemical complex to be built in the Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz.

The petrochemical complex will include the following facilities:

• An ethane-based ethylene cracker, producing 1 million tons per year, using Technip proprietary technology.
• Two high density polyethylene plants using INEOS Innovene technology
• A low density polyethylene plant using BASEL Lupotech technology.
• Storage, waste treatment and utility facilities, including a 150 MW combined cycle power and steam co-generation plant.
• A multimodal logistics platform for shipment of 1 million tons per year of polyethylene via bulk train, bulk truck or bagged.
• Administrative, maintenance, control room and ancillary buildings.

The project is scheduled for completion, with the plant ready for start up, in June 2015.

This award follows the successful execution of the front-end engineering design of the ethylene, HDPE and utilities contracts awarded to Technip in the first quarter of 2011 and the front end engineering of the offsite facilities executed by Odebrecht and ICA Fluor during 2011.

Created in 2010, Braskem Idesa S.A.P.I. is a joint venture between Braskem SA (Brazil), the largest petrochemical company in the Americas and Grupo Idesa, a leading Mexican petrochemical company. Together they are developing the Etileno XXI project, which focuses on the construction and operation of a petrochemical complex to produce polyethylene in the state of Veracruz, Mexico. The project requires a fixed investment of $3.2 billion dollars and will start operating in 2015.