SHANGHAI – Leading PET resin manufacturer, M&G Chemicals, is looking to lead a ‘green revolution’ in the polyester chain with the construction of a US$500 million second-generation bio-refinery in China. Working in conjunction with Danish enzyme provider Novozymes, the new facility will convert wheat and corn into a raw material used to produce polymers that can be used in polyester textiles. It is expected on-stream by mid-2015.