Home / Knowledge / News / Textiles / PetroVietnam's polyester fibre plant to start in Nov
PetroVietnam's polyester fibre plant to start in Nov
11
Oct '12
PetroVietnam, Vietnam’s state-owned oil and gas company, intends to commence commercial operations at its Hai Phong city-based US$ 325 million polyester fibre plant in November this year, Phung Dinh Thuc, chairman of the corporation, has said.
 
Test runs at the plant with annual capacity of 175,000 metres are going on since July 21, 2011. 
 
The plant, set up in the Dinh Vu industrial zone, was originally scheduled to go commercially operational in August last year. However, technical flaws noted during the trial run, delayed commencement of the plant several times.
 
South Korea based Hyundai Engineering, the main contractor of the plant, is in the process of rectifying the flaws, and it is soon expected to complete the same. However, Mr. Thuc told reporters that the commencement of the plant would be further delayed in case the contractor requisites for more time.
 
Once the plant starts commercial operations, it is expected to cater to around 30-40 percent of the domestic demand, and earn revenues of around US$ 300 million per annum.
 
According to the company chairman, the polyester fibres churned out during the test runs were very much in accordance with the company’s quality specifications, and have all been consumed by the domestic market.
 
Along with its two subsidiaries, PetroVietnam holds an 81 percent stake in the plant, while the state-run Vietnam National Textile and Garment Group holds a 14 percent stake, with the rest 5 percent being with the local firm Phongphu Textile.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search