Braskem, Brazilian main resin producer, launched on June 22, Mexico’s biggest petrochemical industry, Etileno XXI. The company has invested an amount of $5.2 billion in the project, the biggest foreign investment in Mexico for the past 15 years.
Aligned with the company’s strategy to expand operations in the Americas, as well as to increase its access to North American gas supplies, Braskem’s plant in Mexico has a production capacity of 1.050 tons per year. Mr. Fernando Musa, Braskem’s President in Brazil, stated that the company will focus on producing its full capacity and on creating stocks of polyethylene.
Currently, Mexico imports about 1.400 tons of polyethylene per year, more than what the new Braskem plant in Mexico is able to produce. Therefore, there is plenty of room for the Brazilian multinational company to grow in the country. It is expected that, only in 2016, Etinelo XXI generates revenues of US$ 1.5 billion to Braskem.
Braskem’s international strategy is focused on competitiveness, taking into account the need for geographical business diversification and cheaper raw-materials. Etileno XXI represents one more step towards the company internationalization. With the new plant, Braskem will be strategic located for attending North-American, South-American and European markets.