MOSCOW (MRC) -- The Century Synthetic Fibre Corporation has been licensed to build a USD 90-million fibre plant in the southern Tay Ninh Province's Trang Bang District, reported GV with reference to Nhip Cau Dau Tu online newspaper.
Covering an area of 100,183 m2 in Thanh Thanh Cong Industrial Zone, the plant will produce 15 million kilograms of fibre and yarn and 12 million kilograms of fabric and twine each year.
It will be jointly built by the Century Synthetic Fibre Corporation and the Uni Industrial and Investment Corporation.
The construction of the three-phase project is scheduled to be completed in the 2015-2016 period. Part of its production line will become operational in 2017, and the whole plant will be officially operational by 2021.
The Century Synthetic Fibre Corporation aims to earn nearly VND 1.7 trillion (USD 78 million) in revenue this year.
As MRC wrote before, last year, The Thai energy company PTT joined up with Saudi Aramco to submit a proposal to build a USD22bn petrochemical and chemical complex in Vietnam. Aramco and PTT would each own 40% of the complex that will be built at Binh Dinh’s Nhon Hoi economic zone. The Vietnamese government will own the remaining 20%. The project includes an olefins and aromatic petrochemical plants with combined capacity of 5mn tonnes a year. It is expected to take six to seven years before the complex is fully operational.
MRC