(BUSINESS WIRE/AETOSWire) -- INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Pan-Asia PET Resin (Guangzhou) Co., Ltd have reached agreement for the licensing of INVISTA’s latest purified terephthalic acid (PTA) process technology.
Pan-Asia will utilize INVISTA’s P8 PTA technology at a scale of 1.25 million metric tonnes per year. The plant would be built in Jizan Economic City, Saudi Arabia. This project signifies INVISTA’s first technology license in the Middle East.
Mike Pickens, IPT president, commented, “I’m glad that our industry-leading P8 technology has been selected by Pan-Asia in their strategic foreign investment. We look forward to the close relationship with Pan-Asia’s team.”
Mr. Guan Lingxiang, Chairman of Pan-Asia, commented, “We are honored to choose INVISTA as our technology licensor. This project demonstrates our support to the Belt and Road Initiative of Chinese government. We look forward to having further cooperation with INVISTA.”
The targeted project start-up date would be in the first quarter of 2021.
INVISTA’s latest industry-leading PTA technology is available as a license package from INVISTA Performance Technologies. For more information, please visit the INVISTA Performance Technologies Web site at www.ipt.invista.com.
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