Brazil's Braskem to invest in Mexico petrochemicals

PLAYA DEL CARMEN, Mexico Tue Feb 23, 2010 10:55pm GMT



PLAYA DEL CARMEN, Mexico Feb 23 (Reuters) - Brazil's Braskem SA (BRKM5.SA) will invest $2.5 billion in the Mexican petrochemical industry, the company's Chief Executive Bernardo Gradin said on Tuesday.

The company announced a plan last year to pair up with Mexican petrochemical firm Idesa for an ethylene project that was expected to involve initial investment of $2.5 billion. (Reporting by Miguel Angel Gutierrez)