M&G Chemicals Plant Update: Corpus Christi Site

February 19, 2014 By

On Thursday, February 13th, at the Padre Island Business Association lunch, Jeff Shea, Site Manager for M&G Chemicals, spoke to update us on the M&G Chemicals PET/PTA Facility.

The privately owned company has locations all throughout the world, but this site here on Port Corpus Christi, Inner Harbor (across from Flint Hills Resources) will be the largest plant yet.

WHAT WILL THE PLANT PRODUCE?

The plant produces polyethylene terephthalate (PET for short), which is a safe and easily recyclable plastic polymer used mainly for containers of all sorts due to its superior water and moisture barrier quality. It will also produce the PET key raw material, purified terephthalic acid (PTA). Production is estimated at 1200 KMT/yr (kilometric tons per year) of PTA and 1000 KMT/yr of PET. This process is FDA approved, and a $1 billion investment.

CO-GENERATION PLANT

This means the plant intends to produce its own electricity. They will do this by using natural gas combustion for electricity, steam and heat. This is efficiency by using “waste.” Water usage is also at the forefront of the plant, as its projected to use approximately 6 million gallons per day. So M&G plans to generate their own water so Corpus Christi doesn’t suffer from drought due to the plant. They will bring in water from the Gulf, pull out the salt, and then put the brine back into the ocean. The technology used here is called “reverse osmosis membrane.”

WHY CORPUS CHRISTI?

According to Shea, “you guys got it all!” (which we already knew J). Corpus is located on the Gulf, it has easy access to three railroads, there are six refineries around, deep-water access, and there is Port access to the Bay and Viola Channel.

BENEFITS TO CORPUS CHRISTI?

This is thought to be an international investment to the area in that it holds the possibility of attracting upsteam and downstream industries as a result of the M&G investment, as this is a company with a proven track record of renewable resources. Not to mention, it will generate many jobs.

LET’S TALK JOBS AND TIMELINE

Jobs:

  • 250 direct full-time employees
  • 700 indirect employees
  • 3,000 construction workers at its peak (5 million man hours!)

Timeline:

  • Summer 2014 – Federal Air Permit received
  • 2nd Quarter of 2014 – Construction begins
  • 4th Quarter of 2015 – Construction completed
  • 1st Quarter of 2016 – Plant commissioned and operational
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Cheniere Energy, Corpus Christi Liquefaction Project Update!

January 13, 2014 By

Chenier Energy coming to Corpus Christi

This past Thursday, Jan. 9, at the Padre Island Business Association lunch, we had the pleasure of listening to guest speaker Jason French update us on the latest Cheniere liquefaction plant. To be located just northeast of Corpus Christi on La Quinta Channel of Corpus Christi Bay.  French, Director of Government and Public Affairs for Cheniere Energy, described this as a time of “energy revolution” due to the “rise in manufacturing because of mass supply of oil and gas in Texas.” The plant, which should take roughly 5 years to complete, will start construction this time next year for an estimated completion year of 2018.

In a nutshell, liquefaction is the process of super cooling liquid natural gas to make it safer for long distance transportation.

Click here to read all about the liquefaction process and what this plant will do:
http://www.cheniere.com/corpus_christi/corpus_project.shtml

Benefits to the public?

This $10.5 billion dollar project will bring in jobs for approximately 300-400 people per day
during construction as well as permanent employees once completed. French also estimated
about 50,000 permanent indirect exploration and production jobs, a $5.2 billion dollar secondary
economic impact to the greater Corpus Christi region, and a $7 billion dollar reduction in trade
deficit.
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2013 was Good……2014 should be even Better!

January 1, 2014 By

Austin Business Journal:  Corpus Christi blows Austin away in construction job growth!

Best Performing Cities Index by the Milken Institute:

Corpus Christi ranks 17th best performing Large City in America.

Corpus Christi is the 5th fastest metro employment growth in the Nation.

Global Insight for the US Metro Economies report: Based upon Gross Metropolitan Product, Corpus Christi ranks 10th!

Projects breaking ground this year:

Cheniere Energy – $12B LNG plant

Voestalpine – $700 million processing plan (largest Austrian project in the US)

M&G Resins – $900 million PTA/PET plant(the largest such facility in the world)

Occidental Petroleum announced a joint venture with Mexichem to build a $1.5B project in Ingleside.

Corpus is becoming a ‘global’ community.  TPCO (Chinese), Voestalpine (Austrian), M&G Resins (Italian), Trafigura (Swiss), Mexichem (Mexican) are sending people to Corpus regularly to do business ‘right here!’

Tourism:  Spring/Summer Schlitterbahn Country Beach Water Resort opening  their park/resort on North Padre Island’s – first phase.

New Home Starts:  Up 60% over the last two years.  Homes sales are up, prices are up and major construction are up!

So, come on 2014…….we’re ready for you!!!

Come Coast Awhile………with us!

Filed Under: Corpus Christ Real Estate Data, corpus christi business, corpus christi jobs, North Padre Island, Schlitterbahn Corpus Christi Tagged With: