Comperj created with six companies
Valor Econômico 02/06/2009
With the creation of six companies for each of the areas of production of the Petrochemical Complex of Rio de Janeiro (Comperj), Petrobrás set up the legal structure of the complex whose construction is estimated at US$ 8.4 billion. It also provided a range of options in order to allow potential partners to make their choices. Located in the municipality of Itaboraí, metropolitan region of Rio de Janeiro, Comperj is one of the main works of the Growth Acceleration Program (PAC). With the earthworks underway, the complex is expected to be operating in the end of 2012. The first one of the six companies, all corporations, Comperj Participações is the holding which will control the other five companies. Comperj Produtos Básicos will be the refinery controller which will process 150 thousand barrels of crude oil a day in order to generate the petrochemical inputs, mainly ethene and propane. Comperj PET will manufacture products of the polyester chain and the raw material for plastic bottles (PTA and PET). It will also produce paraxylene, the basic input of the PET/polyester chain. Comperj Estirênico, styrene producer, one item used in the production of synthetic rubber and the polystyrene, a plastic resin found in refrigerators and TVs. Comperj MEG, producer of ethylene glycol and ethene oxide, which is used in solvents and other chemicals, and Comperj Poliolefinas, producer of polypropylene and polyethylene, the principal thermoplastic resins, form the companies of the complex. At first, Petrobrás will control all companies, but the purpose is to attract partners for the undertaking. Quattor, a petrochemical company controlled by Unipar (60%) and Petrobrás (40%), is the main candidate to share the control of Comperj Poliolefinas. The Ultra group, first one to suggest the creation of a petrochemical complex in Rio based on the refining of heavy crude, has already expressed the intention of participating only in areas similar to those in which it currently operates - its natural niche is Comperj MEG. Comperj Estirênico has the Unigel group, owner of Companhia Brasileira de Estireno (CBE) which acquired Dow's styrene plant in Bahia, as a potential partner.