Braskem May Move From Alagoas to Espírito Santo

Written by Renato Oliveira

Published on 22/05/2019 at 01:00

Updated on 04/06/2019 at 15:50

Braskem

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Braskem Petrochemical from Odebrecht Group Has Activities Halted by the Federal Public Ministry of Alagoas and Is Considering a Move

While the MPF-AL investigates the causes and damages to the environment and properties in the neighborhoods of Pinheiro, Mutange, and Bebedouro, Braskem will have all its activities halted; the suspension began on May 9.
The petrochemical company was conducting mining activities in Maceió, Alagoas, when a report from the National Geological Service indicated signs of soil compromise since 2018, leading the Court of Justice of Alagoas to order a “preventive” freeze of up to US$ 25.45 million in the company’s financial assets.

Concerns about the company’s situation, which is purchasing raw materials from abroad to honor contracts, were expressed by President Fernando Musa, who stated that if the company’s activities do not return to normal within six months, it will have to leave the state of Alagoas.

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Loss for the State

If the move is confirmed, the state of Alagoas could see a reduction in revenue of up to 30% of the gross domestic product, a fact that is already alarming local authorities.
Braskem has been operating in the state for forty-four years, and the company’s stock has fluctuated significantly with the prohibition and suspension of activities.

According to Federal Public Prosecutor Niedja Kaspary, there was a failure in the company’s oversight by IMA (Environmental Institute) of Alagoas, while Governor Renan Filho stated there was nothing abnormal in the oversight; the reality is that everyone is hoping for a favorable outcome for the state.

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Braskem May Move From Alagoas to Espírito Santo

Braskem Petrochemical from Odebrecht Group Has Activities Halted by the Federal Public Ministry of Alagoas and Is Considering a Move

Loss for the State

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Braskem May Move From Alagoas to Espírito Santo

Braskem Petrochemical from Odebrecht Group Has Activities Halted by the Federal Public Ministry of Alagoas and Is Considering a Move

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