Brazil Lends $700M To Braskem's Mexican Petro Project

Law360, New York (June 12, 2012, 1:55 PM EDT) -- The Brazilian Development Bank has approved $700 million in financing for Braskem SA's massive petrochemical complex currently under construction in Mexico, Braskem said late Monday.

Braskem, the largest petrochemical company in the Americas, is developing the complex along with its Mexican counterpart, Idesa Group. Known as Project Ethylene XXI, the three-plant development aims to produce 1 million tons of polyethylene for use in the manufacture of products used in the construction, automotive, electronics, agriculture, food and beverage and packaging industries.

"Project 'Etileno XXI' represents the reactivation...
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