MOSCOW (MRC) -- INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Jiangsu Honggang Petrochemical Co., Ltd. (Honggang) have reached an agreement for the licensing of INVISTA’s latest purified terephthalic acid (PTA) process technology, as per Hydrocarbonprocessing.
This is the first time that INVISTA and Honggang would be collaborating to build state of the art PTA assets; a further recognition by the PTA industry of the many technology and schedule advantages which INVISTA delivers for its customers.
Honggang will utilize INVISTA’s P8 PTA technology at a scale of 2.4 million metric tonnes per year. Since 2012 INVISTA has licensed nearly 21 million tonnes of PTA capacity, representing almost two-thirds of the license capacity awarded during this period. Of this capacity, 70% would be based upon INVISTA’s industry-leading P8 PTA technology, designed to deliver long term value for our many new and returning customers.
A kick-off meeting was successfully held in the week of Oct 8, 2018. The targeted project start-up date would be in Q4, 2020.
As MRC wrote before, in May 2018, IPT announced the success of its latest P8 PTA technology deployed on Jiaxing Petrochemical’s second PTA Line. Started up in record time in December 2017, the plant is now consistently operating at 100 percent design rate with a variable cost performance better than the target, firmly establishing Jiaxing Petrochemical’s second PTA Line as the global leader in terms of raw material and utility consumptions.
Invista is one of the world's largest integrated producers of polymers and fibers, primarily for nylon, spandex and polyester applications. With a business presence in over 20 countries, Invista's global businesses deliver exceptional value for their customers through technology innovations, market insights and a powerful portfolio of global trademarks.
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