15 May 2013 16:23 [Source: ICIS news]
HOUSTON (ICIS)--INVISTA has signed a deal to reserve additional land for its planned nylon 6,6 complex in Shanghai, the US-based producer of chemical intermediates, polymers and fibres said on Wednesday.
The agreement, with the Shanghai Chemical Industry Park, is for additional land adjacent to INVISTA’s planned hexamethylene diamine (HMDA) and adiponitrile (ADN) plants and "marks INVISTA’s next step as it continues to make progress on plans for an integrated nylon 6,6 polymer facility in China", it said.
"It is our intent to build a worldscale polymer facility in a timeframe that would align with our [HMDA] project," said Warren Primeaux, president of INVISTA Intermediates.
"We believe China's continued strong GDP growth will drive increasing demand for durable goods - products that can be enhanced by the use of nylon 6,6," Primeaux added.
INVISTA’s integrated nylon 6,6 project in Shanghai is valued at more than $1bn (€770m), making it the largest capital investment undertaken by the company to date, it said.
Earlier this year, INVISTA received environmental impact assessment approval for the 215,000 tonne/year HMDA plant it intends to build in Shanghai.
Meanwhile, Chinese authorities recently also approved INVISTA’s "Project Approval Request" and "Wholly Foreign-Owned Enterprise Status" for the project, the company added.
"These three items are significant milestones toward having the [HMDA] plant operational by mid-2015," INVISTA said.
($1 = €0.77)
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