Braskem Idesa and Advario Announce Partnership to Construct the Puerto Mexico Chemical Terminal in Veracruz
Mexico City, June 15th, 2022-. Braskem Idesa (BI) announces the signing of an investment agreement with Advario for a joint 50% stake in the construction and operation of an ethane import terminal in Mexico, called “Puerto Mexico Chemical Terminal” (Terminal Química Puerto México or TQPM, in Spanish).
The project’s total investment will be approximately US$400 million, construction will begin in July 2022, and it is planned to be completed by the end of 2024. The Terminal will be developed in the municipalities of Coatzacoalcos and Nanchital, in the state of Veracruz. The 10-hectare site is in the northern part of the Pajaritos lagoon and will be connected to Braskem Idesa’s complex via an 11-kilometer pipeline. A new jetty will also be built in the Pajaritos lagoon with an exclusive area for operations with cryogenic ethane. This important infrastructure project will be part of the Interoceanic Corridor of the Isthmus of Tehuantepec, one of Mexico´s Government main development initiatives.
Advario, a recent carve out from Oiltanking, is a Dutch company specialized in designing, building, financing, and operating of storage and logistic infrastructure for bulk liquid products, including cryogenic gases. Its history and experience spans over 50 years. Advario’s portfolio comprises world-scale storage terminals located strategically in key hubs across the globe. Advario focuses on the individual needs of its customers and provides custom made infrastructure for each project, thereby always with a strong focus on health, safety and the environment, sustainability and reliability of services when operating its facilities.