Brazil’s new chemical firm set for investment
A Brazilian state-owned oil giant has partnered up privately-owned chemical organisation, Quattor, to form a new petrochemical firm, it has been reported.
Those considering property for sale in Brazil may be interested to hear the firm – Unipar – will be based in Rio de Janeiro, which could bring an increased need for housing in the city.
Unipar claims the new enterprise is already among the country’s 20 biggest firms and is set to receive investment of $1.2 billion (£600 million) to increase production capacity for products such as polyethylene and polypropylene, according to the ANBA.
Roberto Costa, director of supply at Petrobras, told the news agency: "Second generation will be manufactured, as polymers manufacturing is the company’s field of operation. First generation is something to be discussed. We have not yet reached a final position."
The firm will be located near to the source of the raw materials, he added.
Meanwhile, it was reported by Reuters earlier in the month that Petrobras was seeking to tap into a new basin off the country’s north-eastern coast.
Those thinking about buying property in Brazil could be interested to hear the country’s oil industry is booming, which hints at an economic buoyancy in the nation.
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