Wednesday, November 30, 2022

$5bn polyethylene plant operational soon

The largest petrochemical plant in Latin America is just about set to begin operating in Nanchital, Veracruz.

The US $5.2-billion joint venture project of petrochemical companies Grupo IDESA of Mexico and Braskem of Brazil, Proyecto Etileno XXI will address a shortfall in the domestic supply of polyethylene, an important product for pipes and conduit in the construction industry, pharmaceutical bottles and equipment and food containers.

Over 65% of domestic demand for polyethylene is met by imports. The new factory will replace about 1.3 million tonnes of that, representing about 75% of the total.

Using natural gas-based ethane, it will produce between 1 million and 1.5 million tonnes of polyethylene annually and employ about 300 people.

Braskem-IDESA says the plant will not only have a big impact on Mexico’s trade balance, but on the plastics sector as well, where more investments are expected as a result.

[ga_map width=’200′ height=’200′ long=’-94.3820359′ lat=’18.0826122′ zoom=’5′]

“The petrochemical industry is a path for economic development and urbanization. The Mexican southeast has the opportunity to evolve thanks to this development,” said Cleantho Leithe, the venture’s business development director.

Etileno XXI is located in a region with a high potential for new reserves of oil and gas.

Construction began four years ago and the plant, initially scheduled to begin operating in 2015, is now expected to be operational during this quarter.

Source: Reuters (en), El Financiero (sp), Energía16 (en)

The 'three amigos' at last year's leadership summit.

North American Leaders’ Summit to be held in CDMX in January: AMLO

Biden and Trudeau will travel to Mexico City in January for the North American Leaders Summit, AMLO said Friday.
Thursday's ruling means that people accused of homicide, rape, kidnapping, fuel theft, burglary and firearm offenses will continue to be jailed before trial.

Supreme Court upholds mandatory pre-trial detention except in financial crimes

The Supreme Court has ruled that current mandates for pre-trial detention are valid except in cases of alleged financial crimes.
Mexico City Mayor Claudia Sheinbaum is a close ally of López Obrador, who has lauded her work as mayor.

AMLO declares he has ‘millions’ of friends, but no time to attend their life events

President López Obrador revealed Thursday that he's too busy to attend weddings, implying he might miss Claudia Sheinbaum's nuptials.