Corpus Christi PET, PTA Projects May Get New Lease on Life, an Industrial Info Market Brief

Construction on a grassroot polyethylene terephthalate (PET) plant and purified terephthalic acid (PTA) unit addition in Corpus Christi, Texas, owned by the now bankrupt M&G Polymers, halted almost one year ago while the bankruptcy proceedings were occurring. Recently, an offer to acquire and complete the construction of the assets has been made and is pending approvals. In addition to this almost $1 billion investment, Industrial Info is currently tracking another almost $9.5 billion in spending by the chemical industry in the Corpus Christi area.