Braskem to invest US$ 941.2 million in 2011
Folha de S. Paulo
The investments of the petrochemical Braskem in 2011 should be in line with the investments made this year, at nearly R$ 1.6 billion (US$ 941.2 million). The difference will lay on the allocation of the resources. In line with the goal of increasing the offer of resins and plastics made from sustainable raw material - sugarcane ethanol -, the company shall announce, until the end of this year, the location of a new plant intended for the green chemistry. The unit, already in the 2011 budget, will have capacity to produce from 30 thousand to 50 thousand tons of green polypropylene (plastic) a year. And, despite the interest of several countries in receiving a green plastic plant, the President of Braskem, Bernardo Gradin, assured it will be built in Brazil. According to him, the green chemistry projects must be subject to the Brazilian ethanol, due to its competitiveness. "We see Brazil as the Middle East of green chemistry", said yesterday, after presenting the third quarter balance sheet.
Also included in the R$ 1.6 billion (US$ 941.2 million) are projects underway and other undertakings that should also be approved by the Board of Directors. Besides the new green chemistry unit - in September, Braskem inaugurated a plant to produce resins made from ethanol -, the members of the board of Braskem shall soon turn their eyes towards the Comperj (Petrochemical Complex of Rio de Janeiro), which it will be erected in partnership with Petrobras. "We will provide details, such as project size, scale and products in the first quarter of 2011", said Gradin. So far, it is only decided Braskem will lead the petrochemical part of the Comperj.
The results of Braskem have showed a heated internal market in the third quarter. The sales of thermoplastic resins of the company in the country grew 17% compared to the previous quarter to 934 thousand tons. The increase made up for the fall in the price and the unfavorable exchange rate. The net earnings grew 12% compared to the second quarter, to R$ 7.3 billion (US$ 4.3 billion). The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) totaled R$ 1 billion (US$ 588.2 million), stable compared to the previous quarter. The net profits of the petrochemical was R$ 554 million (US$ 325.9 million), compared to the R$ 645 million (US$ 327.4 million) a year ago.