US-based fibre producer Invista has confirmed it is to invest more than US$1bn in a 300,000-tonne adiponitrile (ADN) facility in China after its shareholders agreed to proceed with the project.
The plans, revealed for the first time last month, were met with positive feedback, according to Invista, which added it is optimistic agreements will be reached with selected partners over the coming months.
Construction of the facility, which Invista says will meet the local demand for the nylon 6,6 intermediate chemical, will begin in 2020 and production is expected to come online in 2023.
“We are pleased by the feedback we have received in the market and are confident we will reach agreements with selected partners over the next few months; so our shareholders have agreed to proceed with the project,” said Bill Greenfield, president of Invista Intermediates. “Combined with the significant investments being made in our existing ADN plants, this decision further demonstrates Invista’s commitment to the global industry.”
Kyle Redinger, vice president of Invista intermediates, Asia Pacific, added Invista wants to ensure its customers have the best technology available.
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“The last world-scale plant was constructed more than 35 years ago, so this is a special time for the industry, and I am extremely proud to lead Invista’s efforts to deliver this new facility.”
Over the past five years, the firm has invested more than $600m in China to support the nylon market, including a 215,000-tonne hexamethylenediamine (HMD) plant and a 150,000-tonne polymer plant, at the Shanghai Chemical Industry Park (SCIP).
