Braskem Idesa awarded the engineering, procurement and construction (EPC) contract on its Ethylene XXI project to a joint venture company comprised of Odebrecht (40%), Technip (40%) and ICA Fluor (20%).
ICA Fluor is an industrial construction joint venture of its own, including Fluor and Mexicos Empresas ICA.
Together, the three companies will design and build the new Etileno XXI petrochemical complex in the Mexican state of Veracruz. The overall deal value was $2.7 billion.
The new petrochemical complex will include a 1.05 million tpy ethane cracker and integrated polyethylene (PE) plants.
The cracker will be based on Technip technology, while INEOS is providing the high-density (HDPE) technology and LyondellBasell the low-density (LDPE) technology.
The joint venture project team will utilize several operating centers around the world to execute the project.
The project, of which Braskem owns a 65% stake and Idesa the remaining 35%, is expected to start up operations in June 2015.