The world’s largest resin-processing plant is expected to be fully operational by mid-2017, creating up to 250 permanent jobs and manufacturing over a million tons of PET resin a year at Port Corpus Christi.
The world’s largest resin-processing plant is expected to be fully operational by mid-2017, creating up to 250 permanent jobs and manufacturing over a million tons of PET resin a year at Port Corpus Christi.
“In December the general contractor for the project, Chemtex, hired Bay Ltd., to continue work after IMS, the previous contractor, walked off the job delaying the project,” says Mauro Fenoglio, the global manufacturing director for M&G Chemicals.
"Last December, IMS declared it was stopping work and walking off the job with its subcontractors unless they were paid over $50 million in two days. IMS did not provide any proper justification or explanatory documentation to support this extraordinary demand, which was well outside all contracts. Chemtex is now focusing on catching up from the delays and harm caused by IMS walking off the job and re-doing work that IMS improperly completed."
M&G is continuing to sort through the various claims of IMS subcontractors that were not paid even though IMS had routinely claimed it had paid its subcontractors. M&G is working to resolve these issues which will not affect the future manufacturing at the plant.
