Home / Knowledge / News / Textiles / BP, Ningxia Baota sign PTA license agreement
BP, Ningxia Baota sign PTA license agreement
15
Sep '15
Global petrochemical major BP and China's Ningxia Baota Chemical Fibre Co., Ltd. (a majority owned subsidiary of Baota Petrochemical Group) have signed an agreement to license BP's latest generation purified terephthalic acid (PTA) technology, the third such deal agreed by BP.

In a press release, BP said Ningxia Baota intends to build a 1.2 million tonnes per annum (tpa) unit at the Ningxia Ningdong Energy and Chemical Zone in Ningxia Hui Autonomous Region, China, to produce PTA, the primary feedstock for polyesters used in the textile and packaging industry. Baota expects the PTA plant to come on stream in 2018.

“This is the first third-party PTA licence for BP in China since our recent decision to license the use of our market-leading technology. Baota is a renowned petrochemical company in China and I'm proud that they've chosen BP's advantaged technology,” said Rita Griffin, Chief Operating Officer of BP's Global Petrochemicals Business. “We have now licensed this latest PTA technology in India, Oman and China – three significant growth markets – and have our own world-scale plant running at Zhuhai in Guangdong, China. We see great potential long-term in the polyester supply chain.”

“Our PTA technology has significantly lower capital and operating costs relative to conventional PTA plants. The technology is substantially more energy efficient, uses less water, and produces less solid waste. We continue to invest heavily in our proprietary technology to maintain BP's PTA technology as the global leader and as the technology of choice for the future. Innovations are constantly being developed and these will be available to our licensees including Baota.” said Dan Leonardi, BP's Vice-President for Technology & Licensing, Petrochemicals.

Gao Guozheng, Chairman of Ningxia Baota Chemical Fibre Co., Ltd. and Chief Executive of Baota Petrochemical Group, Ningxia Region said: “This investment is highly strategic for us, fulfilling the local requirements for PTA at the lowest possible cost and contributing to the economic development in Ningxia region.” (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mat Brown from Pexels

Textiles | On 17th Jul 2018

India increases import duties on textiles & apparel

The Government of India has increased basic customs duty on several...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

India's WPI inflation for apparel drops 1.3% in June

Apparel/Garments | On 17th Jul 2018

India's WPI inflation for apparel drops 1.3% in June

India's annual rate of inflation, based on monthly wholesale price...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search