Pan-Asia to use Invista's P8 tech for new PTA line –
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Pan-Asia to use Invista's P8 tech for new PTA line

2019-03-14 08:48:08 Fiber2Fashion
Pic: Business Wire
Pic: Business Wire
Invista Performance Technologies (IPT), the technology and licensing group of Invista, and Pan-Asia PET Resin (Guangzhou) Co Ltd have reached an agreement for the licensing of Invista’s latest purified terephthalic acid (PTA) process technology. Pan-Asia will utilise Invista’s P8 PTA technology at a scale of 1.25 million metric tonnes per year.
The new PTA plant would be built in Jizan Economic City, Saudi Arabia, and the projected start-up is in the first quarter of 2021. This project signifies Invista’s first technology license in the Middle East.
“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,” said IPT president Mike Pickens in a press release.
“We are honoured to choose Invista as our technology licensor. This project demonstrates our support to the Belt and Road Initiative of the Chinese government. We look forward to having further cooperation with Invista,” said Pan-Asia chairman Guan Lingxiang.
As a key chemical enterprise of the Guangzhou Economic and Technological Development Zone, Pan-Asia produces 300,000 tons of PET chips each year, generating an annual output value of over 3 billion yuan.