Italian resins giant Mossi & Ghisolfi and Brazilian oil-giant Petrobras are mulling a PET joint venture in northeast Brazil. The PET plant would be with a capacity of 450,000 mta PET at an investment of about US$800-million. The unit, to be located in Pernambuco State, northeast Brazil, would take approximately three years to build.
The plant will meet the growing demand for PET and PTA (an acid used in the manufacture of polyester) in Brazil, and could also be an export hub. The companies will determine in the coming months whether to go ahead with the project. Earlier this year, M&G said it could build a new PET unit in South America at a cost of around US$70-million, but the potential Brazil project would be much larger
15-Feb-05 
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