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Project finance Deal of the Year 2012: Paving the way for home-grown plastics

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At the end of 2012, Braskem Idesa secured a US$3.2 billion project financing for the construction of a petrochemical complex that will drastically reduce Mexico’s reliance on imports of the plastic polyethylene. In organising the largest-ever petrochemical financing in Latin America, the lawyers gave guidance to banks – a number of which had never dealt with Mexican entities before – while racing against the clock to get the deal signed before the change in Mexico’s government