Braskem delays two biobased polyethylene projects until 2013

In Brazil, Braskem has delayed plans for two bio-based projects until 2013. Company CEO Carlos Fadigas told Valor Economico that the two projects that will make bioplastics from ethanol will not break ground now until 2013, owning to a slowdown in the global petrochemical sector. Fadigas said that the company’s focus will shift towards increasing production using existing capacity, and upgrading its existing facilities. In total, Braskem delayed $495 million in new capital investment.

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