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Vinatex to set up fibre plant in JV with PetroVietnam

24
Mar '08
Vietnam Oil & Gas Corporation (PetroVietnam) and the textile major Vietnam National Textile & Garment Group (Vinatex) are jointly planning to set up a green field synthetic fibre plant in the port city of Hai Phong.

The joint venture envisages an investment of around US $200 million and will be located in the Dinh Vu industrial zone. The plant at full capacity will have a capacity to produce 500 tonnes of fibre per day.

The fibre plant is expected to commence commercial production in 2011 and will be a source of raw material for a majority of yarn manufacturing units in Vietnam.


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