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Vietnam gets its first indigenously made polyester fibre
25
Jul '11
PetroVietnam Petrochemical and Textile Fiber Joint Stock Company (PVTEX) financed Dinh Vu Polyester Fiber Plant, has rolled out the first batch of Vietnam's first-ever domestically produced polyester synthetic fibre (psf).

This marks a strategic leap forward in the country's attempts to boost the presence of domestic content in its textile products.

The plant is spread on an area of 15 ha in Dinh Vu Industrial Park in the northern port city of Hai Phong. With a capacity of 175,000 tons, the plant is expected to ensure steady supply of around 40 percent of the domestic textile industry's overall requirement of psf.

In the process, Vietnam's imports of psf would decrease, saving around US$ 400 million in foreign exchange, every year.

Besides, the plant will also boost the growth of the domestic psf industry, while generating regular employment for around 700 workers. It would even earn over six trillion VND in sales for PVTEX, each year.

Meanwhile, PVTEX has embarked on construction of Phu Bai Fibre Plant in Dinh Vu Industrial Park at an investment of VND 140 billion.

Fibre2fashion News Desk - India


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