Italy's M&G picks Sinopec Engineering to build US PET/PTA plants

11 January 2013 14:22  [Source: ICIS news]

ItalyHOUSTON (ICIS)--Mossi & Ghisolfi (M&G) has selected Sinopec Engineering to build its planned polyethylene terephthalate (PET) and purified terephthalic acid (PTA) facilities in Corpus Christi, Texas, the Italy-based PET major said on Friday.

Under a $1bn (€750m) contract, Sinopec Engineering will undertake the turnkey construction of what will be the world’s largest single-line PET plant with a capacity of 1m tonnes/year, integrated with a single line 1.2m tonne/year PTA plant, M&G said.

M&G's engineering arms, Chemtex Global and M&G Finanziaria, will provide equipment and services on a subcontracting basis to Sinopec, it added.

Completion of construction of the plants, including the time required to obtain necessary permits, is expected to occur within 36 months. The project was announced in July 2011.

($1 = €0.75)

By: Stefan Baumgarten
+1 713 525 2653

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