Braskem Gets BNDES Credit

Braskem and Idesa have been approved for a $700m credit line from BNDES to pay for the construction of the Braskem Idesa – Etileno XXI project in Veracruz, Mexico, Braskem says. The credit is for construction plus 14 years, and Braskem declines to disclose additional details. The joint venture between the two petrochemical companies is building a $3bn petrochemical complex expected to begin operation in 2015, with a capacity of 1m tons per year.