Alpek, M&G sign PTA license agreement

Alpek, M&G sign PTA license agreement

10:34 AM, 17th April 2013
Alpek, M&G sign PTA license agreement

MONTERREY, MEXICO: Alpek SAB de CV has signed an IntegRex PTA license agreement and a PTA-PET sourcing agreement with the M&G Group. M&G will license Alpek’s IntegRex PTA technology for the construction of its new integrated PTAPET plant in Corpus Christi, Texas (M&G Facility). In addition, Alpek will pay $350 million to M&G during the facility’s construction and will receive contractual rights to 400 thousand tonne of PET (made with 336 thousand tonne of PTA) per year from the M&G facility. Alpek will supply the raw materials for its portion of PTAPET under the agreement. M&G’s Corpus Christi site is currently expected to begin operations in 2016. Other terms and conditions of the agreement were not disclosed.

“The agreements signed with M&G reaffirm Alpek’s capabilities as a technology licensor and represent an important step forward to enhance our cost competitiveness in North America. We are convinced that the benefits of IntegRex, combined with the scale of the new integrated plant in Corpus Christi as well as the region’s attractive energy and logistics will comprise one of the most competitive cost structures for PTA and PET globally, which will allow us to better serve and grow with our customers,” said Jose de Jesus Valdez, CEO, Alpek.

© WOC News 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Technip awarded P-76 FPSO contract in Brazil

  PARIS, FRANCE: Technip was awarded by PNBV (subsidiary of Petrobras SA) a substantial contract for the topside construction and integration, t ...

Read more
BASF completes major construction work at Dahej, India

DAHEJ, INDIA: BASF has completed major construction work at its future chemical production site in Dahej, Gujarat, India. The site will employ around ...

Read more
Australian High Court rules in favour of BASF

MELBOURNE, AUSTRALIA: The Australian High Court made decision that SNF has infringed BASF’s Rheomax ETD patents and that those patents are val ...

Read more
UOP to provide technology to Petronas’ FLNG project

DES PLAINES, US: UOP LLC, a Honeywell company, has been selected by Malaysia’s Petroliam Nasional Berhad (Petronas) to provide technology for ...

Read more
Fluor awarded SAPREF’s Clean Fuels project contract in Durban, South Africa

IRVING, US/JOHANNESBURG, SOUTH AFRICA: Fluor Corporation was awarded a front-end engineering and design (FEED) contract by South African Petroleum Ref ...

Read more
Jacobs bags BASF’s chemical complex contract in Antwerp, Belgium

PASADENA, US: Jacobs Engineering Group Inc received a frame agreement from BASF Antwerp NV, part of BASF, to provide engineering services at BASF&rs ...

Read more