Swedish company to set up textile recycling unit in Vietnam

Syre Group is into recycling textile fibres using the fabric-to-fabric model, reducing carbon emissions and textile waste through large-scale recycling processes.

The project, with an expected capacity of 250,000 tonnes per year and an investment of $1 billion, is expected to be operational by the end of 2028.

The project is part of Syre's strategy to build a global giga-scale recycling plant chain.

The project will apply advanced technology as per US and European Union (EU) standards, producing recycled polyester with quality equivalent to virgin polyester, superior in sustainability, creating hundreds of high-quality jobs and completing a closed cycle from textile waste to circular polyester fibers, the provincial government said in a release on its official portal.

Vietnam’s Prime Minister has directed the province to quickly implement the project.

General director of Syre Group Dennis Nobelius said it will collect textile waste from India, Spain, Indonesia and the Philippines, and solve issues related to import of raw materials.

Fibre2Fashion News Desk (DS)