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PetroVietnam inks JV to set up polyester fibre plant
23
Feb '09
The Vietnam National Oil and Gas Group (PetroVietnam) and the Hai Phong City People's Committee have signed a deal to set up a Polyester Fibre Plant as part of the various projects planned by PetroVietnam in the city.

According to terms of the agreement, the People's Committee will fully support and create favourable conditions for setting up of the infrastructure needed for the projects. Most of these projects are scheduled to begin commercial operations in 2010.

Other than the Polyester fibre plant, PetroVietnam intends to set up a Oil and Gas Service Port and Liquefied Petroleum Gas storage tanks. Apart from the above, PetroVietnam has committed itself to other projects in the city.

The polyester fibre plant is to be located in the Dinh Vu Economic Zone and will be built at cost of US $311. 8 million and have a capacity to produce 175,000 tons of the polyester fibre per annum. The construction of the building is expected to be completed in December 2010.

Fibre2fashion News Desk - Vietnam

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