TWO PETROCHEMICAL PLANTS SCHEDULED AT VENEZUELAN SITES

Plans have been disclosed for two major petrochemical projects in Venezuela. State owned Pequiven will build a $340 million, 705,000 metric ton/year methanol plant at its new petrochemical complex at Jose, eastern Venezuela. Dow Chemical and Venezuelan partners plan to build a $160 million, 150,000 ton/year styrene monomer plant in Zulia, western Venezuela. Pequiven's equity partners in the methanol plant are the World Bank's International Finance Corp., two units of Japan's

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