On the 18th, China Pingmei Shenma Group and INVISTA signed a purchase and sales contract in Shanghai Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd(600663) , with a purchase and sales amount of 13 billion yuan, including the import and export of adiponitrile, adipic acid and other products. It is reported that the two sides reached a cooperation intention during the fourth China International Import Expo in 2021. This signing is the specific implementation of the achievements of the Expo.
INVISTA is a comprehensive manufacturer of chemical intermediates, polymers and fibers. INVISTA expects that after the 400000 ton adiponitrile project completed in the middle of 2022 is put into operation, INVISTA Shanghai plant will become the largest supplier of key raw materials for nylon 66 industry in China.
The two sides also signed a carbon emission reduction technology license agreement, which has become a specific action of China Pingmei Shenma Group to implement the goal and task of “carbon peak and carbon neutralization”, and will explore and demonstrate the green and low-carbon transformation of China’s chemical industry.
Du Bo, general manager of China Pingmei Shenma Group, said that since 1998, the purchase volume of adiponitrile has increased from thousands of tons per year to 120000 tons per year. The two sides will focus on the supply of raw materials, the introduction of technology and other fields, broaden the fields of cooperation and promote the enterprises of both sides to achieve higher quality development.
“It is expected that our emission control technology can be applied in adipic acid production of China Pingmei Shenma Group as soon as possible and bring more emission reduction results.” Said Li Kai, chairman of INVISTA (China) Investment Co., Ltd.
