Invista’s technology and licensing group, Invista Performance Technologies (IPT), and Jiangsu Honggang Petrochemical Co., Ltd. have reached agreement for the licensing of Invista’s latest purified terephthalic acid (PTA) process technology.
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 tons per year. Since 2012, Invista has licensed nearly 21 million tons 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 many new and returning customers.
The targeted project start-up date would be in the fourth quarter of 2020.