US-based fibre producer Invista has inked a deal with Shanghai Chemical Industry Park (SCIP) as part of plans to establish a 400,000 tonne adiponitrile (ADN) plant – a key ingredient for the nylon 6,6 polymer used in plastics, coatings and apparel fibres.
Invista says it expects construction on the US$1bn facility, which was first announced in August of last year, to begin next year, with startup scheduled for 2022.
The firm signed a Memorandum of Cooperation at a ceremony in Shanghai yesterday (21 February). In attendance 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 of Invista.
“With this memorandum of cooperation and a commitment to work toward an investment agreement, we are pleased to be taking the next step toward finalising the investment and its location,” said Gentry.
“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.”
Invista recently sold its Apparel and Advanced Textiles business (A&AT) – including its Lycra spandex/elastane brand – to Shandong Ruyi Investment Holding, one of the leading textile and apparel companies in China.