M&G build PET PTA plants onUS Gulf Coast

M&G to build PET and PTA plants on the US Gulf Coast

2:49 PM, 17th June 2011
M&G to build PET and PTA plants on the US Gulf Coast

The new plants to be built with the next generation technology, will have PET capacity to be 1 million metric ton and PTA as 1.2 million metric ton.

HOUSTON, US: The M&G Group will build a polyethylene terephthalate (PET) plant in the United States, co-located and fully integrated with a new PTA plant at the same site. The new PET single line plant will have a capacity of 1,000 kt/year (or approximately 2.2 billion lbs/year) and will employ, on a larger scale, the same technology as M&G’s single reactor Suape (Brazil) PET plant.

The PTA unit will have a capacity of 1,200 kt/year (or approximately 2.6 billion lbs/year) and will provide full upstream integration for all of M&G’s US PET capacity. The PTA plant will be the largest in the Americas and among the largest in the world, claimed M&G. The location of the new plants has been reduced to sites in Texas, Mississippi and Louisiana. A final selection of the location is expected to be announced by the end of June and construction time for both plants is estimated to be 30 months.

“As a result of demand growth fully recovering in 2010 and of several plants in North America having closed or been sold over the past few years, the industry supply/demand balance has now been restored. This has created room in the market for our new plant,” said Marco Ghisolfi, CEO, Polymers Business Unit, M&G.

“We believe that North American assets must be competitive in the global environment so we have decided to follow through with our original plan of leveraging our unique proprietary PET technology,” said Ghisolfi.

M&G PET technology allows them to build plants over four times larger than those achievable with commercially available technologies. This will enable M&G to cost effectively service future industry growth and to have by far the most competitive cost base not only in the Americas but globally, informed the company.

(C) WOC News






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