Petrobras, Ultra negotiate, seek JVs for $3 billion petrochemical complex

Brazil's state-owned oil company Petróleo Brasileiro SA (Petrobras) and Brazilian private petrochemical group Ultrapar Participações SA (Ultra) are negotiating the construction of what, if built, would be a $3 billion petrochemical complex, possibly at Itaguai, 80 km South from Rio de Janeiro.

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