December 20, 2017 / 9:35 PM / 9 months ago

Mexichem says will not rebuild plant damaged in explosion

MEXICO CITY, Dec 20 (Reuters) - Mexican chemicals company Mexichem said on Wednesday that it would not rebuild a petrochemical plant in southeastern Mexico that was badly damaged in a deadly explosion last year.

The vinyl petrochemical plant in the Gulf coast state of Veracruz was a joint venture between state oil firm Pemex's petrochemical unit and majority owner Mexichem. The blast at the site in April 2016 killed more than 30 people.

Mexichem said in a statement that it had decided not to rebuild the production capacity and to discontinue the business. It added that the step did not mean a withdrawal from the tie-up with Pemex, nor would it affect the venture's cash flow.

Reporting by Adriana Barrera and Julia Love

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