CHINA - Jiaxing Petrochemical Co Ltd, a subsidiary of Tongkun Group Co Ltd, is building a second purified terephthalic acid (PTA) line and licensing Invista Performance Technologies (IPT)’s latest P8 process technology for it.
Located at the Chemical New Material Zone, Zhapu Town, in Zhejiang province’s Jiaxing City, Jiaxing Petrochemical is a wholly owned PTA production site of Tongkun Group Co Ltd – a major Chinese plastics manufacturer.
With this latest investment in a second PTA line, Tongkun Group says its upstream and downstream industry chain will be more effective, substantially increasing the group’s risk resistance capacity, production scale and market competitiveness.
This is the second time Jiaxing Petrochemical is working with US-headquartered Invista; its first PTA line, in operation since 2012, also utilizes Invista’s technology.
Xu, president at Tongkun Group, said, “I look forward to cooperation between both sides to ensure successful project execution of the second PTA line.”
Mike Pickens, IPT president, commented, “The signing of the second PTA line license agreement represents the latest milestone in our relationship with Jiaxing and Tongkun. We are very appreciative of the trust that Chairman Chen Shiliang and his team have placed in Invista, recognizing that selection of industry-leading technology is critical for a good return on investment.”