May 23, 2005
Plastic sector recovers in 30%

(Panorama Digital) - "The plastic sector has shown a recovery of 30% in the past year according to the director of Corpozulia, Mr. Bassan Touma.

He bases this recovery on the boost that new government policies have given to reactivate industrial activity (...)

During mid 2004, the Ministry of Energy and Mines, with the support of PDVSA, signed an agreement of intention to help the plastic sector, in association with Exxon-Mobil.

This project involves capabilities of approximately 1 million tons/year of ethylene (raw material to make plastic).

In order to achieve this, they must build four plants, the first one of ethane extraction, then a high-density polyethylene plant, a low-density polyethylene plant and a glycol plant.

'The idea is to make Venezuela the first producer and exporter of olefins, the raw material needed to make plastic', Minister of Energy and Mines, Rafael Ramírez, said (...)".