Brazilian chemical major Braskem Idesa and Oiltanking’s new energies subsidiary Advario are to jointly build and operate a US$400 million (€381 million) greenfield ethane import terminal in Veracruz, Mexico.
Terminal Quimica Puerto México (TQPM, Puerto Mexico Chemical Terminal) will be 50:50 owned by the two companies and construction, on a 10 ha site in the municipalities of Coatzacoalcos and Nanchital, is expected to be completed by the end of 2024. The new terminal on the north of the Pajaritos lagoon, will be connected to Braskem Idesa’s chemical complex by an 11 km pipeline. It will also have a new jetty with an exclusive area for operations with cryogenic ethane.
TQPM will provide Braskem Idesa with the ethane feedstock necessary to operate its chemical complex at full capacity, which it says will ensure the competitiveness of the entire Mexican petrochemical and plastics industry. The project is expected to generate 2,000 construction jobs, and will be part of the Interoceanic Corridor of the Isthmus of Tehuantepec, a major development initiative of the Mexican government.
‘This partnership allows Braskem Idesa to work with one of the most distinguished companies in the sector, adding technology, experience, and recognised safety excellence to TQPM’s operations. We are delighted with the announcement of this joint venture,’ says Stefan Lepecki, CEO of Braskem Idesa.
Bas Verkooijen, CEO of Advario, adds: ‘Advario is proud to partner with Braskem Idesa on this project. The development of the Puerto Mexico Chemical Terminal is another important example of Advario’s commitment to partnering with leaders in the industry and focusing on growth opportunities within chemicals, gases, and new energies.’