In an interview with a local Mexican newspaper El Semanario, Miguel Benedetto, general director of ANIQ, the National Chemical Industry Association, said an average of US$2bn would be invested each year from 2012 to 2016.
Double the figure seen in 2011, the director of ANIQ added, "The industry has been investing around US$900mn annually, but with the announcement of projects like Brazilian firm Braskem's [NYSE: BAK] Ethylene XXI and Mexico's IDESA, and the joint venture between Mexichem [BMV: MEXCHEM] and [state oil company] Pemex for the production of vinyl chloride at the Pajaritos complex in Coatzacoalcos, Veracruz, this figure will more than double."
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