M&G purchases land its PET PTA plants at Corpus Christi, Texas
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M&G purchases land for its PET and PTA plants at Corpus Christi, Texas

11:25 AM, 13th September 2012
M&G purchases land for its PET and PTA plants at Corpus Christi, Texas
Rick Perry, Governor, Texas.

HOUSTON, US: M&G Group purchased land in Corpus Christi, Texas where it will build its one million tonne per year PET plant (2.2 billion pounds) and accompanying 1.2 million tonne per year (2.6 billion pounds) PTA plant. The new PET single line plant will employ the same technology as M&G’s single reactor Suape (Brazil) PET plant, including M&G’s EasyUpTM SSP technology.

M&G Group purchased the property from the philanthropic organization, The Robert Driscoll and Julia Driscoll and Robert Driscoll, Jr Foundation. The land is conveniently located on the northern side of the Viola Channel within the Port of Corpus Christi providing good access to rail and navigable water.

“The final selection and purchase of land is an important step as it will allow us to complete detailed engineering and permit filing,” said Mauro Fenoglio, Project Leader for this investment.

“The synergies of the location, adding to the unmatched size and integration efficiency of the plant, will further remove logistic costs, making our operation by far the world lowest cost,” said Marco Ghisolfi, CEO, Polymers Business Unit, M&G.

“I always appreciate the opportunity to meet with employers that are looking to Texas as the best place to grow their business and I’m pleased M&G Group is finalizing its plans to create hundreds of jobs for Texans in Corpus Christi,” said Rick Perry, Governor, Texas.

The new plants will generate approximately 250 new jobs. An additional 700 indirect positions are anticipated and as many as 3,000 jobs likely will be created during construction. Corpus Christi is strategically located on the Gulf of Mexico. The Port of Corpus Christi will soon expand significantly as a major trade gateway for Mexico and Latin America with development of the La Quinta Container Terminal. The Corpus Christi Port Authority, to support the expected traffic growth, has also announced a major rail expansion.

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