M&G hires Sinopec Engineering to build massive US PET project

M&G Group (Houston, TX) has signed a $1 billion engineering, procurement and construction contract with Sinopec Engineering Group (SEG) for the turnkey construction of a previously announced 1 million m.t./yr (2.2 billion lbs/yr) polyethylene terephthalate (PET) plant and an integrated 1.2 m.t./yr purified terephthalic acid (PTA) plant in Corpus Christi, TX. M&G, which announced the news on Friday, expects construction of both plants, including permitting, to be complete within 36 months. "This is the largest PET investment ever in the western world and...

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