A subsidiary of PetroVietnam, the state run oil and gas company, will begin construction of a US $320 million polyester staple fibre plant from May 19, 2009.
PVTEX Dinh Vu Joint Stock Co., the subsidiary will build the plant in north Vietnam in the Dinh VU Industrial park on a area covering 15 hectares.
The construction of the 175,000 tons per annum polyester fibre plant is slated for completion by mid-2011, and will help reduce dependence on import of the fibre.
Fibre2fashion News Desk - India
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