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Hyosung to invest in PP production facility in Vietnam
15
Nov '16
South Korean company Hyosung Corporation has proposed to invest in a polypropylene (PP) manufacturing plant in Vietnam. The plant which will be set up on an area of 608,910 sq. metres in Ba Ria Vung Tau province, will be set up in two phases. The company will invest $336 million for a capacity of 300 million tons per year in the first phase.

“In the second phase, Hyosung Corporation will invest $226 million for a capacity of 300,000 tons per year for another PP plant,” Vietnamese media reported.

The company already operates a facility in Vietnam which produces various fibres like spandex, nylon, polyester, and carpet fibre and also steel fibre for applications in automobile tires, etc. (AR)

Fibre2Fashion News Desk – India

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