Mexican firms eye $2 bn energy investment in Peru
A group of three Mexican companies said on Friday they could invest up to $2 billion in building a petrochemicals plant in natural-gas rich Peru if they could secure cheap supplies of ethane.
By Agencies |
LIMA:A group of three Mexican companies said on Friday they could invest up to $2billion in building a petrochemicals plant in natural-gas rich Peru if theycould secure cheap supplies of ethane.
Executives fromMexican petrochemicals company Mexichem, conglomerate Alfa and Idesa met withPeruvian President Alan Garcia, who is encouraging foreign companies to help theAndean country develop its energy sector. "Our interest lies in getting the rawmaterials for a petrochemical complex.
If we could get hold of ethanegas at competitive prices, our investments could exceed $2 billion," AlfaPresident Dionisio Garza told reporters. Peru has proven natural gas reserves of13.4 trillion cubic feet and the government wants investors to help it boost oiland gas output as well as build petrochemical plants to produce goods such asexplosives, fertilizers and plastics.
Ethane, a component of naturalgas, is extracted for use in petrochemicals production. "We've come to discussour plans and to ask (Garcia) how, and in what way, we can make investments inchemicals and petrochemicals in this country," Mexichem President Antonio delValle told reporters. Other companies that have expressed interest in Peru'sfledgling petrochemical industry are Brazil's Petrobras
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