German Firm to Consult Vietnam's First Polyester Fiber Project
Petro Vietnam-Vinatex Dinh Vu Joint Stock Co. (PVTEX) and Germany’s EPC Industrial Engineering GmBH Co. have signed a consulting contract to work out the project to build Vietnam’s first synthetic fiber plant, the Vietnam News Agency reported.
Under the VND8 billion (US$500,000) contract, the German company will consult PVTEX on choosing technology, investment, project pace, and provide technical support while awaiting investment license, the agency said.
The contract will be carried out in 70 days.
The first polyester fiber project, to be built in the northern port city of Haiphong, is estimated to cost around US$200 million.
Once operational in 2011, the plant will produce 400 tons of fiber a day, meeting 40 per cent of the domestic demand for synthetic fiber that Vietnam is now importing 100 per cent. (VNA)
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