The new plant would be built in Camacari, Brazil, the Sao Paulo-based newspaper said. Acrylic acid is used as an ingredient to produce paint and diapers, Valor said.
Elekeiroz is controlled by the Brazilian holding company Itausa - Investimentos Itau SA.
To contact the reporter on this story: Lucia Kassai in Sao Paulo at firstname.lastname@example.org.
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