"Built on the demonstrated performance of IPT’s P8 technology platform, the variable cost, capital productivity and environmental performance of the PTA plant is expected to set new benchmarks within the industry," Invista said in a press release.

“Sasa will continue to invest in polyester to position itself as the leading polyester producer after China and India. This agreement will enable self-sufficiency in PTA, terminating all PTA imports into Turkey. This is also the first step of Sasa’s investment in petrochemicals with more investment in polyester, PTA and MEG to follow in Adana's Yumurtalik district,” said Sasa chairman Ibrahim Erdemoglu.

“Our companies have a long history of cooperation dating back to 1974, when Sasa licensed IPT’s polyester technology. We are honoured that our industry leading P8 PTA technology has been selected by Sasa. The signing of this license agreement has great significance in terms of long-term collaboration between Sasa and IPT,” said Mike Pickens, IPT president.

IPT offers its industry-leading PTA technology, including its latest version of P8 technology, as a license package.

Fibre2Fashion News Desk (RKS)