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20-12-2012

Braskem Idesa successfully signs the $3.2B financing for its Etileno XXI project in Mexico

The project will be the most modern petrochemical plant in the Americas and is expected to create 9,000 jobs during the construction phase and 3,000 direct and indirect jobs when operations begin in 2015. The plant will produce polyethylene to supply Mexican companies and will support import substitution. Mexico City-December 19 2012- Braskem Idesa announces the successful signing of the principal financing documents for the US$ 3.2 billion Project Financing that will fund the construction and operation of a major petrochemical complex, which will be the most modern in the Americas. This landmark financing was structured by seven official Agencies which include two Export Agencies of Canada and Italy, two Multilateral Agencies (IFC and IADB), and three Development Banks of Brazil and Mexico. Ten commercial banks will fund either under the guarantee of SACE or under B-loans of IFC and IDB. Intesa Sanpaolo acts as Agent of the US $ 600 million SACE Facility.

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