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