Baker McKenzie Advises Advario in Joint Venture with Braskem Idesa to Construct the Puerto Mexico Chemical Terminal
Baker McKenzie is advising Advario, a leading global storage and logistic service provider for petroleum products, chemicals, gases, and new energies, in its joint venture with Braskem Idesa, a petrochemical company, to construct and operate an ethane import terminal in Mexico called Terminal Química Puerto México. The project's total investment is expected to be about USD 400 million.
The Terminal will be developed in the municipalities of Coatzacoalcos and Nanchital, in the state of Veracruz. Construction is set to begin July 2022 and is planned to be completed by the end of 2024. This project will be part of the Interoceanic Corridor of the Isthmus of Tehuantepec, one of the Mexican government's main development initiatives.
"It has been a delight to work with such a great team of professionals, and in particular, shout-out to Advario's teams in Amsterdam, Hamburg, Buenos Aires and Mexico on this accomplishment," said Baker McKenzie Partner Daniel Sanchez-Morales who co-leads the Baker McKenzie team. "This project will be landmark for Mexico's industry in the coming years and proves that when there is will, leadership, and drive, good things can be done in Mexico."
Learn more about the project in Braskem Idesa and Advario's press release.
Led by Mr. Sanchez-Morales and Carlo Pérez-Arizti, the Baker McKenzie team includes Federico Ruanova, Sofia Moran and Herman Gutiérrez.
Benjamín Torres-Barrón, Head of Baker McKenzie's Mexico Energy, Mining & Infrastructure (EMI) Practice, stated: "This is another example of our top tier Energy Practice in Mexico and our stellar cross-border ability to help clients achieve their Energy Transition strategy, whether the investment flow is from North America, Europe or Latin America."
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