PetroVietnam, Vinatex to Operate Dinh Vu Polyester Fiber Plant in July
Investors of the state-run Vietnam Oil and Gas Group (PetroVietnam) and the Vietnam National Textile and Garment Group (Vinatex) will put into operation the $250-million Dinh Vu polyester fiber factory in July.
The plant, the first of its kind in Vietnam so far, is expected to produce 175,000 tons of polyester staple fiber (PSF) and filament polyester a year, meeting up to 40% of the domestic textile sector’s fiber demand.
The textile and garment industry is among the country's top foreign currency earners, contributing about one fifth of Vietnam's total export turnover every year.
The industry brought in $11.172 billion from garment and textile exports in 2010 and expects to raise its export revenues to between $12.5 billion and $13 billion this year. (Investment)
Vietnamese
