Home / Knowledge / News / Textiles / Petrovietnam, Vinatex sign deal on polyester fibre use
Petrovietnam, Vinatex sign deal on polyester fibre use
12
Aug '15
Petrovietnam (PVN) and Vietnam National Textile and Garment Group (Vinatex) have signed a cooperation agreement on Dinh Vu polyester fibre consumption of PetroVietnam Petrochemical and Textile Fibre JSC (PVTEX), PVN said on its website.

The agreement is the outcome of cooperation between Petrovietnam and Vinatex after more than one year of commercial operation of Dinh Vu Polyester Plant. So far, its products have been domestically and internationally credible and the quality has improved to the level of imported goods. It is now a stable background for close and comprehensive relation between the two groups in various fields such as polyester provision, export market extension cooperation, staff training and product evaluation as well as other aspects for the mutual benefit and enhancement of trademark value of both sides, PVN said.

At the signing ceremony, Vice Minister of Industry and Trade (MoIT) Tran Quoc Khanh said, “The signing of Dinh Vu polyester fibre consumption agreement is an important event showing the close cooperation between the two big groups. In the development strategy, the Vietnam Oil and Gas Group has indicated the importance of developing the post-refinery stage, manufacturing the essential goods and enhancing the value of textile industry in accordance with the Government's requirement to Petrovietnam. We believe that the quality of PVTEX products and services will bring the business values and advantages for our customers; specifically a stable material supply and maximum time reduction of transportation, storage as well as exchange rate stability.”

The cooperation for polyester consumption and market development is to ensure not only material stabilization, product competitiveness increase and market extension for Vinatex enterprises but also Vietnam garment trademark promotion and increased domestic rate of textile industry to 60 per cent.

Vinatex General Director Le Tien Truong said “The stable qualified product of Dinh Vu Polyester Plant is good news for textile enterprises. We can sign a consumption agreement on equal and straight basis. Vinatex enterprises wish to be given priority in buying PVTEX products with over 50 per cent total demand of each enterprise.”

The cooperative agreement between Petrovietnam and Vinatex has affirmed the right policy of Dinh Vu Polyester Construction Project in the light of the impending approval of the Trans-Pacific Strategic Economic Partnership Agreement (TPP) and its implementation. The use of domestic products will bring big advantage for Vietnam garment enterprises in general and Vinatex in particular in terms of price, shipment time (from 2 weeks to 2 days), especially the product's origin (from polyester stage) as stipulated by TPP, PVN said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Divvya and Nidhhi Gambhir
Walnut

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

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search