MEXICO: Alpek To Build New Polyester Plant

Alpek, the Mexican-based global petrochemical company, is to construct a new polyester fibre plant in Altamira, Tamaulipas, Mexico at the end of the year, the company announced on Wednesday. The new factory will produce approximately 165,000 metric tons of polyester fibre per year, and is expected to require an investment of $130m. It is expected to begin production by the end of 2001. The plant is also expected to produce 70,000 metric tons of nylon textile, which would represent the largest output of the product by any single plant in the Western hemisphere, the company claimed.Alpek is owned by Alfa, the Mexican conglomerate. A big player in synthetic fibres, petrochemicals, steel, food, auto components, and telecommunications, Alfa holds five business groups including Alpek. ALFA has alliances with more than 20 companies in the US, Europe, and Mexico and is owned by the Garza Sada family of Monterrey.