Industry News

PEMEX Intends to Extend Production Chain of Vinyl Chloride in Mexico

Published on 2011-06-29. Author : SpecialChem

Petréleos Mexicanos (PEMEX)filed with the Federal Competition Commission (COFECO) application to create, in joint venture with Mexichem, a new company to be responsible for integrating the production chain of vinyl chloride in Mexico and to create value and most competitive petrochemical industry overall national market.

The creation of this new company, representing a joint investment of 556 million, will capitalize on the strengths of Pemex Petrochemical, to increase their competitive advantage through a strategic alliance and technological upgrading in order to achieve a more efficient operation of the production chain of this product.

The trade agreement is in full compliance with current legislation on the petrochemical and give the current viability of the products made from plant material, maintaining fully the rights of their workers.

Through this joint venture is expected to increase exponentially in the production of vinyl chloride 24, 000 tonnes in the first year of operation, 146 thousand in the second and 217, 000 in the third to reach a total production volume of just over 400, 000 tons, 216 percent higher than that obtained in 2010, which will result in a significant improvement in the financial results of Pemex.

It will also allow processes to continue to promote regional development and local industry to provide new opportunities for suppliers, in addition to generating direct and indirect jobs, mainly for carrying out expansion works. Vinyl chloride is manufactured by Pemex Petrochemical raw material for PVC (polyvinyl chloride), which serves to make a wide variety of plastics, including pipes, packaging and products for wire and cable coatings and resins and paint.

About Petréleos

Petroleos Petréleos is one of the largest company in Mexico and Latin America and the largest taxpayer in the country. It is one of the few oil companies in the world that develops the whole industry chain, from exploration to distribution and marketing of final products. In addition, Petréleos Mexicanos and its four subsidiaries have equity in 40 companies. Of these, four are majority state-owned, ie, Petréleos Mexicanos or any of its subsidiary entities have more than 51 percent of its capital.

Source: Petréleos Mexicanos

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