Mexican state oil company Pemex’s petrochemicals subsidiary PPQ has spent around US$110mn through July of its proposed 2010 capex budget of US$300mn, a spokesperson for the company told BNamericas.
“Most of PPQ’s capex (January-July 2010) has been spent in the modernization and expansion of the aromatics train I [at the at the Cangrejera petrochemical complex in Coatzacoalcos, Veracruz state],” the spokesperson said in an emailed response to questions.
The capex also includes expanding the capacity of the ethylene oxide plant at the Morelos petrochemical complex, also in Coatzacoalcos.
The US$300mn investment corresponds to 2% of the total US$18.2bn planned investment in Pemex this year, BNamericas reported previously.
PPQ received investments of approximately US$190mn in 2009.
Similar Posts:
