Pemex, Mexichem Plan $556M JV
Mexican state oil company Pemex is seeking to form a joint venture with Mexichem.
Mexican state oil company Pemex is seeking to form a joint venture with Mexichem, The Wall Street Journal reports. The proposal involves a joint investment of $556 million in a new company. The new venture will produce vinyl chloride, a raw material for PVC plastics. Mexichem, a Latin American chemical producer, will contribute about 60% of the investment to form the new company, adds Bloomberg.
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