PetroVietnam, Vinatex to Build US$200-Mln Synthetic Fiber Plant
The Vietnam National Textile & Garment Group (Vinatex) and the Vietnam Oil and Gas Corporation (PetroVietnam) will build a synthetic fiber plant costing US$200 million in northern Haiphong city.
The facility will be built in the Dinh Vu Industrial Zone, and to be operational in 2011, VNA noted.
PetroVietnam and Vinatex expect it will produce 500 tons of fire a day and provide 40 per cent of materials for the domestic thread production.
The two state-run giants March 22 signed a comprehensive cooperation agreement in Hanoi to jointly use each other’s products and services, search for potential partners in the fields.
They also planned to invest in building industrial zones and urban areas’ infrastructure, deluxe offices, textile and apparels development projects, and manufacturing equipment and material for textile and apparels industry. (VNA, Labor)
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