Brazil’s major chemical producer Braskem was laying the foundation on Wednesday for its PE plant in Rio Grande do Sul state. Braskem’s 200,000 tonnes/year “green” PE facility will cost reais (R) 500m ($223m, €172m) and is expected to start operations in 2011. Braskem will shoulder 30% of the total investment, while the other 70% will come from financing sources. According to Braskem, the unit will be the first in the world to produce ethylene at a commercial scale using a renewable source - sugarcane - as feedstock. Braskem also announced that it signed a partnership with Brazilian firm Cromex to develop products using the company’s “green” PE. Braskem operates 18 plants in Brazil and produces more than 11m tonnes/year of thermoplastic resins and other petrochemical products.