12 May 2011 00:00 [Source: ICIS news]
HOUSTON (ICIS)--Mossi & Ghisolfi (M&G) plans to build a 1m tonne polyethylene terephthalate (PET) plant in the US Gulf coast region, the producer said on Wednesday.
The plants could be completed by the end of 2013, M&G said.
“As a result of demand growth fully recovering in 2010 and of several plants in North America having closed or been sold over the past few years, the industry supply/demand balance has now been restored, creating room in the market for our new plant,” M&G said.
M&G said it had earlier considered building such a plant but the global financial crisis caused the company to put those plans on hold.
“We continue to believe that North American assets must be competitive in the global environment so we have decided to follow through with our original plan of leveraging our unique proprietary PET technology and to enhance the plan implementation with the additional benefits of efficient upstream integration now being offered by the latest generation PTA technologies.”
Candidates for the plant site are in Texas, Mississippi and Louisiana, M&G said. “A final selection of the location and of the PTA technology is expected to be announced by the end of June and construction time for both plants is estimated to be 30 months.”
M&G said it is evaluating two technologies for the PTA plant.
The PET plant will use the same technology as M&G's single reactor Suape in Brazil, which came on stream in the first quarter of 2007 and has since been debottlenecked to 650,000 tonnes/year, the company said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|