An architect’s rendering of M & G Resin’s planned chemical plant at the Port of Corpus Christi. Courtesy Photo
The Port of Corpus Christi will build a $24.8 million dock where M&G Resins USA plans a $800 million chemical plant. The port will be reimbursed for its portion of the dock by M&G Resins over the next 10 years said David L. Krams, port director of engineering service.
The dock is expected to bring in $700,000 to $1.4 million in review each year, plus dockage and wharfage generated by M&G. The dock should be built sometime in the next 14 months.
M&G Resins will be the world's largest single-line producer of polyethylene terephthalate (PET) and purified terephthalic acid (PTA) when the plant goes into operation in 2016. The Corpus Christi facility is expected to produce 1.1 million tons of PET and 1.3 million tons of PTA.
Some 250 permanent jobs, 700 indirect jobs and 3,000 construction jobs will be created by the plant.
Already the third largest producer of PET and PTA, M&G is part of the Mossi Ghisolfi Group established in Italy in 1953. Its products are used to make synthetic fibers and liquid containers used for soft drinks, water and cooking oils. Its regional office is located in Houston, Texas.
The Corpus Christi facility, which was officially announced in 2011, has acquired all necessary state and federal permits required for construction according to the company's website. The plant will sit on 410 acres of land it acquired in 2012.
