Invista is investing 1.5 billion yuan (US$230 million) in its Shanghai business for the third time in less than two years to treble nylon 6,6 output.
Nylon 6,6 is a chemical substance that is primarily utilised in the car industry, electrical and electronic industries, and a variety of other consumer and industrial sectors.
Construction is set to begin in the second quarter of 2022, with operations starting in the first quarter of 2024. According to Invista, by then, nylon 6,6 output will have reached 800,000 tonnes per year, decreasing the country’s reliance on imports.
Invista, the world’s second largest maker of nylon 6,6 polymer, has announced plans to expand its production capacity in Shanghai. The company says it is backed by its confidence in the Chinese market, whose value is immeasurable in the 10 years to come. In June, Invista invested 95 million yuan to set up an Asia Innovation Center at the Shanghai Chemical Industry Park. Last June, the company invested 7 billion yuan to build a world-scale adiponitrile plant.
Image source: Shanghai Daily
