Covestro, confirming CW’s exclusive report in July, today announced plans to invest €1.5 billion ($1.72 billion) in a methylene di-para-phenylene isocyanate (MDI) plant at its Baytown, Texas, manufacturing complex. The facility, which was on Tuesday approved by the company’s supervisory board, is the largest-ever single investment. The company is currently the third-largest maker of MDI worldwide.
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