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Yesterday, chemical engineering and manufacturing company M&G Group announced it chose Corpus Christi, Texas, as the location for a new polyethylene terephthalate (PET) plant and accompanying purified terephthalic acid (PTA) facility.

The PET and PTA plants, which are slated for completion in about 30 months, will be built near the Port of Corpus Christi, which is served by BNSF Railway Co., Kansas City Southern Railway Co. and Union Pacific Railroad. The port plans to expand to become a major trade gateway for Mexico and Latin America due to the development of the La Quinta Container Terminal.
 
"Corpus Christi … has exceptional highway, deep-water and rail access, including three Class I railroads," said Marco Ghisolfi, chief executive officer of M&G's Polymers Business Unit, in a prepared statement.