The polyethylene terephthalate (PET) resin producer decided to further invest in its Corpus Christi, Texas facility.
M&G Chemicals, a polyethylene terephthalate (PET) resin producer, decided to further invest in its Corpus Christi, Texas facility.
In 2013, the PET resin producer signed a $1 billion engineering, procurement and construction contract with Sinopec Engineering Co., Ltd. for the construction of the facility, which was originally supposed to have an annual capacity of 1 million metric tons of PET and 1.2 million metric tons of (purified terephthalic acid) PTA, M&G Chemicals said.
However, the PET and PTA capacity will be increased by 100,000 metric tons per year from the original plans.
“We decided to increase our investment in order to make it even more efficient. Most of the increased capacity has already been committed in the market. A portion of the capacity will also be used to displace our current imports from Mexico,” M&G Chemicals CEO Marco Ghisolfi said in a statement.
The facility is scheduled to open in the second half of 2016.
Based out of Luxembourg, Germany, M&G Chemicals has employees in 14 locations across six countries. The company has manufacturing locations in Brazil, Mexico and the United States.
M&G ups investment in Corpus Christi facility
