The objective is to evaluate business opportunities in Venezuela

Braskem and Pequiven, branch of the Venezuelan petrochemical PDVSA, signed an sgreement to evaluate business development opportunities in Venezuela, based on the strategic focus of Braskem - the thermoplastic resins. The agreement was signed in the context of the meeting of Luís Inácio Lula da Silva, president of Brasil, and Hugo Chavez, president of Venezuela that took place on February the 14th this year.

The access to raw materials in quantity and quality, with competitive costs, is a strategic question for the petrochemical industry and, in this context, Venezuela offers outstanding opportunities. The country has the best crude-oil and natural gas reserves of Latin America and, it is found in a strategic geographic and logistic position, when compared to relevant international markets.

Aligned with the commitment of adding value for shareholders, Braskem has been studying the best alternatives for its sustainable growth, observing the considerable increase of thermoplastic resin demand in the domestic and regional market.

This research agreement to be developed with Pequiven is one of the growth projects already identified by Braskem, such as the new polypropylene factory, in partnership with Petrobrás in Paulinia (SP), and the integrated polo of polyethylene on the border of Brasil and Bolivia, using Bolivian gas. The eventual participation of Braskem in these projects is supported by its own operational generation of cash, financings with banks and multilateral entities of credit.