Brazil Chemical Industry to Invest US$ 26 Billion in 2010
Brazil's chemical sector investment this year may reach US$ 26 billion. The figures are included in a study by the Brazilian Chemical Industry Association (Abiquim) with some 800 companies in the sector, disclosed January 7.
According to the organization, projects already approved and that are in progress represent US$ 10.9 billion of the total, US$ 11.9 billion represents projects that are under study and US$ 3.3 billion represent expenses with maintenance, improvement of processes, safety and environment.
Abiquim forecasts the generation of 5,800 direct jobs with investment in the period.
According to the association, Rio de Janeiro is the state to receive the largest volume of funds in the sector (US$ 9.17 billion), whereas a large part should be turned to the construction of a Petrobras Petrochemical Complex in Rio de Janeiro (Comperj). Construction of the hub began in 2008 with initial investment estimated at US$ 8.4 billion.
Then comes Minas Gerais (US$ 3.53 billion), São Paulo (US$ 3.14 billion), Bahia (US$ 1.54 billion) and Pernambuco (US$ 1.23 billion). Another US$ 3.51 billion should be turned to enterprises in sites not yet defined.
Abiquim also pointed out that, with the Chemical Industry National Pact, launched by the sector last month, investment may reach US$ 132 billion by 2020.
The plan includes a series of measures to be taken by public sector organizations and private initiative with the objective of placing Brazil among the five main chemical producers in the period, making the sector trade balance generate a surplus - from January to November 2009, for example, it ran a deficit of US$ 14.4 billion - and making the country into a leader in "green chemistry".
If this takes place, Abiquim expects the generation of 2.3 million work posts.
