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M&G to build world largest PET single line in Texas Corpus Christi

M&G to invest $1 billion in PET and PTA plants in USA

2B1st_Project_Smart_Explorer_Sales_Pursuit_ToolThe Italian company Mossi & Ghisolfi Gruppo (M&G Group) made the final investment decision (FID) for to build a greenfield polyethylene terephthalate (PET) and purified terephthalic acid (PTA) plants in Corpus Christi in Texas, USA.

M&G Group is a wholly owned family company with head quarters in Tortona, 70 kilometers south of Milano, in Italy.

With approximately $3 billion revenues per year, M&G Group is one of the three largest producer of PET resin for packaging applications in the Americas with 1.6 million t/y production.

This $1 billion capital expenditure project is the world largest project for the production of PET and one of the largest announced in the petrochemical industry in the USA.

M&G is organized in three Business Units:

M&G_Group_Corpus_Christi_PET-PTA_Project – PET Polymers, to develop and produce PET, mostly for packaging applications, in Italy, Brazil, Mexico and USA.

 – Chemtex, the engineering and design branch of the Group which had been acquired in 2004 from Mitsubishi

 – Bio-polyester Feedstocks to develop all the processes to produce PET resin 100% from renewable resources.

M&G Group PET production units in Suape (Brazil) and Altamira (Mexico) are the two largest single lines in the world.

They use M&G Group PROESA proprietary technology.

Chemtex Business unit provides engineering, procurement and construction (EPC) services in petrochemical polymers, fibers and biofuels with PET R&D centers in Rivalta in Italy, Sharon in Ohio, USA, and Pocos de Caudas in Brazil

Chemtex_PET_Process&Technology

As part of development program, the Bio-polyester business unit investigates the capabilities of multiple sources of raw materials to produce polyester.

On September 2012, M&G completed the acquisition of the land on the north bank of the Viola Channel in the Port of Corpus Christi in Texas, USA, because of its perfect location for import and export feedstock and production.

M&G selected Sinopec Engineering for EPC contract

On January 2013, M&G Group selected Sinopec Engineering Group Corporation Ltd (SEG or Sinopec Engineering) to award its $1 billion lump sum turn key (LSTK) contract for the engineering, procurement and construction (EPC) of this PET and PTA complex.

Sinopec Engineering Group or SEG is the newly formed engineering subsidiary created by China Petrochemical Corporation (Sinopec) in combining all its Chinese Institutes of engineering and construction in a single entity.

Sinopec_PTA_Reference_(Luoyang)Built around the Sinopec Engineering Incorporation (SEI), Sinopec Engineering accumulates 60 years of experience in downstream processes engineering and construction to become the largest petrochemical engineering services company in China.

Starting from refining, Sinopec Engineering expertise covers all the processes of the bulk petrochemical industry with a long list of references of PET and PTA projects in China.

For Sinopec Engineering this EPC contract is significant not only by the size, $1 billion capital expenditure, but also as a break-through in the US engineering market.

Located in Corpus Christi, the M&G Group PET and PTA project will be erected in one of the most active petrochemical center in USA and in the world with no less than six refineries in operations around.

The PET single line should have a capacity of 1 million t/y, and the PTA should be designed for 1.2 million t/y capacity.

Chemtex will provide Sinopec Engineering with the critical equipment and services  related to the proprietary technology.

Chemtex will act as subcontractor of Sinopec Engineering.

The financing of the project is provided by the Industrial and Commercial Bank of China (ICBC) and the Mexican Banco Inbursa.

M&G will be the operator and the sole owner of the Corpus Christi PET and PTA complex.

This project is one more example of the series of major petrochemical projects planned in USA by non American companies willing to benefit in the same time of the low cost shale gas feedstock and of the opportunities given by the world largest consumers market.

M&G Group and Sinopec Engineering expect the PET and PTA Corpus Christi project to be completed in 2106.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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