HOUSTON — July 11, 2011 — M&G Group, the largest producer of PET for packaging applications in
the Americas has selected Corpus Christi, Texas, as the location for construction of its previously
announce done million tons per year PET plant (2.2 billion pounds) and accompanying 1.2 million
tons per year (2.6 billion pounds) PTA plant. 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.
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 revolutionary EasyUp™ SSP technology. Corpus Christi,
Texas, is located 200 miles southwest of Houston, Texas, and 145 miles east of Laredo, Texas. It is
strategically located on the Gulf of Mexico with a metropolitan population over 400,000. The Port
of Corpus Christi is the sixth largest port in the United States, in terms of tonnage, and will
soon expand significantly as a major trade gateway for Mexico and Latin America with development of
the La Quinta Container Terminal.
“Corpus Christi is an excellent strategic home for what will be M&G’s largest-ever
investment. It has exceptional highway, deep-water and rail access, including three Class 1
railroads,” said Marco Ghisolfi, CEO of M&G’s Polymers Business Unit.
“I’m pleased M&G Group has chosen Corpus Christi as the location of its new North
American plant,creating hundreds of jobs for Texans and further strengthening our state economy,
and wish them continued success at this new facility,” said Governor Rick Perry of Texas. “This
announcement is great news for South Texas and for the Lone Star State as we continue to attract
companies from around the world to create jobs in Texas thanks to our low taxes, reasonable and
predictable regulatory climate, fair legal system and skilled workforce.”
“It was not only Corpus Christi’s Regional Economic Development Corporation and Governor
Perry’s Economic Development & Tourism Division’s aggressive business-friendly approach in
attracting M&G to Texas that weighed heavily in making the location decision, but also the
service and supply efficiencies resulting from the presence of six refineries and Paraxylene
production in the area, as well as the excellent port infrastructure that allows the benefit of
having marine access to most of the PTA/PET facility’s key raw materials, Paraxylene, Acetic Acid
and Ethylene Glycol,” added Ghisolfi.
M&G Selects Corpus Christi, Texas as the site of its 1 million ton PET and 1.2 million
ton PTA plants Forbes has ranked Corpus Christi in the top 25 percent of the large metropolitan
areas for low costs of doing business. The area is populated by a highly skilled workforce in
petrochemical, heavy fabrication,water transport and aerospace. Moody’s Economy.com ranked Corpus
Christi in the best 20 percent of metropolitan areas for low workforce costs.
“We are very proud that M&G Polymers has selected Corpus Christi as the location of its
new industrial facility. It brings new investment, new jobs and new opportunities for growth, both
upstream and downstream, in our local industry,” said Mayor Joe Adame, City of Corpus Christi.
Corpus Christi Regional Economic Development Corporation anticipates direct and indirect
payroll resulting from the new plants to reach $780 million over 10 years and expects total
economic impact of the new plants on Corpus Christi to be $4.8 billion during that same time.
Roland Mower, CEO of Corpus Christi’s Regional Economic Development Corporation, responded to
the good news: “Corpus Christi Regional Economic Development Corporation is pleased to welcome
M&G Polymers to the Coastal Bend Region. They will be able to leverage superior logistics
optionality and the many benefits of our industrial infrastructure.”
Construction time for both the PET and PTA plants is estimated to be 30 months. The
engineering, project management, sourcing and construction management will be performed by Chemtex
Global S.A., a subsidiary company of the M&G Group.
Posted on July 19, 2011
Source: M&G Group