On January 17, 2025, Brazil announced a significant investment of R$ 759.3 million aimed at revitalizing its chemical and petrochemical sectors. The announcement took place at Braskem's facility in Triunfo, Rio Grande do Sul, during an event attended by key figures including Vice President Geraldo Alckmin and state governor Eduardo Leite.
Of the total investment, R$ 614 million will be allocated to seven projects led by Braskem across Rio Grande do Sul, Bahia, and Alagoas. Specifically, Braskem plans to invest R$ 306 million in Rio Grande do Sul, while other companies such as Innova, Unipar, and Grupo OCQ will contribute R$ 73.3 million, R$ 57 million, and R$ 15 million, respectively.
The funding is facilitated by the Special Regime for the Chemical Industry (Reiq Investimento), which provides fiscal incentives to reduce costs associated with raw materials and inputs used in chemical production. This initiative aims to enhance the competitiveness of Brazil's chemical industry.
According to Braskem's CEO, Roberto Ramos, these investments come at a pivotal moment for the sector, promising to boost productivity and generate additional revenue for the Brazilian economy. Unipar's CEO, Rodrigo Cannaval, echoed this sentiment, stating that such incentives will expand production capacity and attract further investments, thereby fostering national industrial development.
Additionally, there are nine more projects under review by the Ministry of Development, Industry, Commerce, and Services, which could bring an additional R$ 1 billion in investments, underscoring the growing momentum in Brazil's chemical sector.