Brazilian state-run energy giant Petrobras (NYSE: PBR) is studying a proposal to double styrene production capacity at its Innova unit in Triunfo, southern Brazil.

If approved, styrene capacity would be boosted to 500,000t/y from the current 250,000t/y, a Petrobras spokesperson told BNamericas.

Analysis of the proposal should be complete by the end of this year, and the project included in Petrobras’ 2012-16 investment plan, supply director Paulo Roberto Costa said earlier this week.

In March, Petrobras acquired full control of petrochemical firm Innova for US$332mn from Petrobras Energнa Internacional, a wholly owned subsidiary of Petrobras Argentina.

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