Italy's M&G Group (M&G) recently announced that it has signed a US$ 1 billion engineering, procurement and construction contract ("EPC Contract") with Sinopec Engineering Group (SEG) for the turnkey construction in Corpus Christi, Texas of its PET/PTA plants. Together, they will be merging the world's largest single line PET plant, with a 2.2 billion pound capacity per year, with the western world's largest single line PTA plant with a 2.6 billion pound capacity per year. The expected time required to obtain necessary permits and complete construction is within the next 36 months, and

Gov. Rick Perry this month (Sept. 2012) while in Italy meet with Chairman Vittorio Ghisolfi and other executive leadership from M&G Group, an Italian company that last year announced plans to open a facility in Corpus Christi. The governor also met with Lombardy President Roberto Formigoni to discuss competitiveness and biotechnology, and Ferrari Chairman Luca di Montezemolo. "I always appreciate the opportunity to meet with employers that are looking to Texas as the best place to grow their business, and I'm pleased M&G is finalizing its plans to create hundreds of jobs for Texans in Corpus

CORPUS CHRISTI - Governor Rick Perry announced today that a M&G Group, a PET resin manufacturer, has chosen Corpus Christi for its latest plant. According to a news release, "the expansion is expected to create at least 250 direct jobs at the facility, and generate several millions in capital investment." The Corpus Christi Regional Economic Development Corporation believes the facility will bring in over $4.8 billion over 10 years, with payrolls reaching $780 million. {pagebreak} M&G Group is a family owned chemical engineering and manufacturing group headquartered in Tortona, Italy. The