A memorandum of cooperation has been signed between INVISTA and the Shanghai Chemical Industry Park (SCIP) for China-based AND plant at a ceremony on 20th Feb in Shanghai.
The attendees were Wu Qing – Vice Mayor of the Shanghai Municipal Government, Chen Mingbo- Deputy Secretary General of the Shanghai Municipal government and Director General of the Shanghai Economy Informatization Commission, Ma Jing- Director General of the Shanghai Chemical Industrial Park Administration Commission, and Jeff Gentry- Chairman and CEO for INVISTA.
The estimated investment for the Engineering for a 400,000-ton adiponitrile (ADN) plant is more than $1 billion (7 billion RMB). The construction is likely to start in 2020 while the startup is expected to begin by 2022. However, the timelines are targeted with the support of the local authorities.
Jeff Gentry, INVISTA Chairman and CEO says: “With this memorandum of cooperation and a commitment to work toward an investment agreement, we are pleased to be taking the next step toward finalizing the investment and its location.”
He further went on to say: “Shanghai is an attractive location in part due to the benefits of integrating the new facility into our existing HMD and polymer plants at SCIP. Furthermore, the cooperation and support we’ve received from the Shanghai government and SCIP to advance this project give us confidence that we can work together to meet future milestones.”
As per the guidelines of the memorandum of cooperation, INVISTA will bring in its internal decision-making process for the project along with strong support from the Shanghai government and SCIP.
ADN is the main ingredient in the production of nylon 6,6 – a versatile polymer used in many applications that are believed to improve the people’s quality of life. The applications include engineered plastics, automotive airbag fabric, high-performance coatings, and specialty apparel fibers.