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Alpek licenses PTA to M&G project, buys PET offtake rights for $350 million

3:19 PM MDT | April 22, 2013 | Clay Boswell

M&G Group (Tortona, Italy) has licensed Alpek’s IntegRex technology for its planned 1.2-million m.t./year purified terephthalic acid (PTA) plant in Corpus Christi, TX, the company announced on Tuesday.

Alpek (San Pedro Garza García, Mexico) has, in turn, acquired the right to purchase 400,000 m.t./year of polyethylene terephthalate (PET) produced at the facility under a long-term supply agreement for $350 million.

M&G announced plans to build the PTA plant and an associated 1 million m.t./year polyethylene terephthalate (PET) plant in May 2011. M&G says it will own and independently construct and operate both the PET and PTA plants, which are expected to begin production in 2016.

“Thanks to the unique and experienced world class engineering of  Chemtex and Sinopec, we will be the first to scale up IntegRex PTA technology to this level,” says Marco Ghisolfi, CEO of M&G. “It is through the combination of the up-scaled IntegRex PTA technology and the innovative M&G Easy-up PET Technology that we will be introducing at Corpus Christi the most efficient, state of art, PTA-PET plants in the Americas.”












 
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