Mexico to see petchem industry grow

Mar 12, 1997 01:00 AM

A private think-tank has predicted petrochemicals output will jump on average by more than 5 % per year through 2010 after a 1.16 % decline in 1996, the group said in a report obtained. The National Manufacturing Industry Chamber's Economic Studies Center estimated installed capacity would grow an average 5.4 % over the same 13-year period.
Mexico should be a net exporter of petrochemicals by 2006, after at least ten years of trade deficits, according to the report. In 1996, the country's petrochemical trade deficit totalled $ 1.163 bn.
The government is revamping the industry with a sell-off of 49 % of the nation's 10 principal plants of feedstock, currently owned by Pemex. Industry observers expect the move to rejuvenate the sector.

Source: not available
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