Vietnamese polyester fibre plant could resume production

Vietnam’s first polyester fibre manufacturing plant could soon resume production following the investor’s strong commitment.

The leaders of state-owned oil and gas giant PetroVietnam and state-owned textile and clothing conglomerate Vinatex met recently to discuss resuming the fibre plant’s operations.

Based in the Dinh Vu Economic Zone in the northern port city of Haiphong, the plant has a total investment of nearly VND7trn (US$325m) and was planned to use feedstocks from the Dung Quat Oil Refinery in the central province of Quang Ngai to produce fibre. PetroVietnam owns 75% of the plant.

The meeting indicated a possible resumption of operations at the Dinh Vu Polyester Fibre Plant (PVTex) which halted production in October 2015 owing to losses after the first year of commercial operations.

For the full story, see the September 2017 edition of Textiles South East Asia. Not a subscriber? Sign up HERE