Pequiven new investments. Petrocasas

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The latest months have been very quiet. The shadow of a new economic crisis is covering most of the developed economies, and serious doubts about China continuous growth model are arising.

The latests news show that most of the investment (financed by Chinese development fund) are still half way. And no mention to petrochemical plants.

For the Petrocasas proyect, the promise is 20.000 new houses will be available for new year. I will be quite suspicious with this figure, given that the original project target was up to 15.000 houses. Even more, to produce 20.000 houses will require more than 30% of all national PVC production!

Finally to conclude, there are some news about Pequiven expanding its resins production capacity from around 500kta to 2000kta. The catch: new production will be in line in 2016. That is 2 years more than reported 10 months ago...

PEQUIVEN is going bankrupt!!!... not really

This will be the first entry in english to the blog, like most of the things (for just 4 entries you can not have done a lot of things hehe).

In the past week, in different venezuelan newspapers and webpages, a document has been published with an chain-emailish look with the following information.

• The destitution (and rise of Clarck Inciarte) of Saul Ameliach was because he lied to Chavez, commited corrupt acts, and bad administration.
• As the facts of the bankruptcy, it shows the 1-year delay of the Urea projects in "El Palito", and "Planta Navy" (first time I heard about this one, btw).
• Then it goes to the so called "Empresas de Producción Social" (from now on EPS) or social production company, the dipers factory "Guayuco", needles factory, and a garbage container factory.

The movement of Ameliach shouldn´t mean anything to me (in my completely clueless position), since is a common practice to move the ministers. And after taking a look of Inciarte CV, he has been a lot of time involved with the venezuelan petrochemical industry.

1-year delay of a project in a crisis-time, shouldn't look like a sign of Pequiven being bankrupt, we should be proud of only 1 year delay!!! (hehe). More important is the 2 years delay of the olefins and polyolefins project in Jose.

For the EPS... well..., I don´t really have any comment on that, because I think this post has already been speculative enough.

Also the same day (and my heart does not want to think that the "bankrupt PEQUIVEN" document appeared EXACTLY on the same day to mislead the attention of) the real news: (in my opinion of course).

AVIPLA (Asociación venezolana de industrias plásticas), something like venezuelan association for plastic industries, is having their annual congress now, and even the Pequiven's CEO is present, where he said the following:

• Pequiven expect to invest $30.000 millions. Where? in the project of the last post :)
  
• The number of plastic processors in Venezuela has increased by 22%.

So that is, petrochemical business in Venezuela is still going, and growing!!
For the "Guayucos" factory, I will do like San Lucas did: ver para creer, meter el dedo y hueler