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Corpus Christi Polymers, a polyester joint venture of Indorama Ventures, Alpek, and Far Eastern Investment, is putting construction of its Texas plant on hold. The partners paid $1.1 billion for the facility, then under construction, a little more than a year ago, during the bankruptcy of M&G Chemicals. They now say construction costs are higher than originally estimated because of rising labor costs on the Gulf Coast. The companies anticipate completing the project in 2023.
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