INVISTA Performance Technologies (IPT) and Pan-Asia PET Resin (Guangzhou) Co.Ltd -INVISTA’s technology and licensing group, have agreed for the licensing of INVISTA’s latest purified terephthalic acid (PTA) process technology.
Pan-Asia will avail of INVISTA’s P8 PTA technology at a scale of 1.25 million metric tonnes per year. The plant is to be built in Jizan Economic City, Saudi Arabia. This project paved the way for INVISTA’s first technology license in the Middle East.
Mike Pickens, IPT president, quoted, “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, stated, “We are honoured 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 project is targeted to start in the first quarter of 2021. INVISTA’s latest industry-leading PTA technology is available as a license package from INVISTA Performance Technologies.