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
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
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.