Braskem Idesa (BI) and Advario have announced the formalisation of their partnership, with Advario’s acquisition of 50% of the capital of Terminal Química Puerto México (TQPM). The total estimated investment for the project is $400 million (€377 million).
The aim is to construct and operate a new ethane import terminal in Coatzacoalcos, Veracruz.
The new terminal will have 10 hectares for ethane storage connected to the BI petrochemical complex through an ethane pipeline of approximately 10 km. In addition, it will have a storage capacity of 100,000 m³ and supply the ethane required by the BI plant to operate at total capacity.
The project aims to positively impact the southern region of Veracruz by generating around 2,000 jobs, contracting suppliers and creating new logistics infrastructure.
Stefan Lepecki, CEO of Braskem Idesa, says: ‘This agreement not only demonstrates the positive work we are doing with Advario, a partner that adds technology, knowledge and quality to TQPM’s operations, it also ensures that this investment will have a direct impact to strengthen the petrochemical industry in Mexico, a sector that generates competitiveness, innovation, and jobs for the country.’
The construction of the TQPM began in July 2022 and is expected to be completed in the second half of 2024.
