Braskem Idesa and Advario formalize partnership for the Terminal Química Puerto México project in Veracruz

  • With an investment of 400 million dollars, the terminal will generate 2 thousand formal jobs during the construction phase and will increase the availability of ethane gas and the competitiveness of the Mexican petrochemical industry

Mexico City on March 01 2023-. Braskem Idesa (BI) and Advario announce the formalization of their partnership, by virtue of which Advario acquired 50% of the capital of Terminal Química Puerto México (TQPM), a company whose purpose is the construction and operation of a new ethane import terminal in Coatzacoalcos, Veracruz. The total estimated investment for the project amounts to US$400 million.

The new terminal will have an area of 10 hectares for ethane storage connected to the BI petrochemical complex through an ethane pipeline of approximately 10 kilometers; it will have a storage capacity of 100 thousand m3 and will supply the ethane required by the BI plant to operate at full capacity. The project will have a positive impact on the southern region of Veracruz through the generation of approximately 2 thousand direct jobs, the contracting of suppliers and the creation of new logistics infrastructure for the area and the state.

The formalization of this partnership is a clear example of the commitment of both companies to focus on growth opportunities in the petrochemical sector, thus supporting the Mexican petrochemical and plastics industry.

"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," commented Stefan Lepecki, CEO of Braskem Idesa.

The construction of the TQPM began in July 2022 and is expected to be completed in the second half of 2024. The works are approximately 30% complete at present.