Expansion of the green plastic unit in Triunfo enters the final stretch
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“For the next few weeks.” This is the projection presented by Braskem’s Vice President of Finance, Supplies and Institutional Relations, Pedro Freitas, on the completion of the expansion of the green ethylene plant (made from sugarcane ethanol) that the company owns in the Petrochemical Complex of Triumph With the completion of the expansion, the factory will go from an annual production capacity of 200,000 tons of the so-called green plastic to 260,000 tons of the product per year.
Still in Triunfo, Braskem’s vice president for finance, supplies and institutional relations recalls that the expansion of the company’s technology center should be inaugurated in May. The manager points out that this is the main unit of this nature that the company has. This Thursday (23) Freitas participated in the presentation of Braskem’s financial results for the past year and for the last quarter of 2022.
In the fourth quarter, the company recorded a loss of around BRL 1.7 billion, compared to a profit of BRL 550 million in the same period of 2021. Sales revenue in the three months ended in 2022 was BRL 19 billion, 33% lower than the fourth quarter of the previous year. All of 2022 ended with a loss of BRL 336 million.
Braskem’s president, Roberto Bischoff, points out that last year the market for chemical and petrochemical products was greatly affected, especially in the second half, by the dynamics of supply and demand. He comments that several factors have contributed to weaker consumption, such as zero Covid measures in China, in addition to doubts about growth scenarios in Europe and the United States. In the post-pandemic period, the executive points out that there was the entry of new production capacities in the world of polyethylene and polypropylene, which increased the supply of these resins.
For 2023, Braskem also projects a more cautious stance. “This year, considering that we are in the petrochemical downcycle, the priorities are focused on the operational optimization of assets and cost discipline”, points out the company’s vice-president of finance, supplies and institutional relations. Freitas adds that, in this context, Braskem should invest around 15% less globally this year than in 2022, that is, reducing investments from approximately US$ 1 billion to approximately US$ 850 million. One of these disbursements, scheduled for the second half, is for the maintenance shutdown of the plant that Braskem has in Bahia, which should absorb around US$ 100 million.
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