Chairman of the Provincial People's Committee and leaders of Syre Group signed a memorandum of understanding on cooperation to invest in a 1 billion USD fabric recycling complex - Photo: TAN LUC
On April 25, Binh Dinh Provincial People's Committee and Syre Group (Sweden) signed a memorandum of understanding on investment cooperation in a polyester fabric recycling production complex project.
The polyester fabric recycling complex project has a total investment of about 1 billion USD, deployed on an area of 20 hectares, operating from 2028 with a capacity of 250,000 tons/year.
The project's goal is to build a large-scale complex to recycle textile waste into polyester fibers, making Vietnam a global center for circular textiles.
At the event, Mr. Ho Quoc Dung, Secretary of Binh Dinh Provincial Party Committee, said that the locality has many industrial parks that have been fully invested with abundant clean land funds, investors can start construction at any time when they have a license. Labor resources and training centers are available, ready to provide high-quality human resources for projects.
Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee, said that he strongly supports high-tech projects, green development, and environmental protection. Sweden is a country with advanced technology, especially in the fields of recycling and green development. Therefore, the locality is ready to support Syre in resolving legal difficulties related to importing raw materials.
On the contrary, the group must properly fulfill its commitments on developing a circular economy , green economy, protecting the environment and using domestic scrap sources to recycle in each stage.
Joint working session between investors and Binh Dinh provincial government to discuss the project - Photo: TAN LUC
According to Ms. Susanna Campbell, Director of Syre Group, the textile industry today needs to develop on a more sustainable basis and Syre is developing in that direction. This enterprise has purchased American technology to apply to recycling polyester fibers.
"We have researched 20 types of textile recycling technology and the technology we are using is the most advanced. This technology allows textile waste to be recycled and produced into a new type of polyester fiber," said the investor representative.
The largest project Sweden invested in Vietnam
Swedish Ambassador to Vietnam, Johan Idisi, informed that so far Swedish enterprises have invested about 3 billion USD in Vietnam. If implemented, this will be the largest project of Swedish enterprises in Vietnam.
According to Mr. Johan Idisi, from the relationship of supporting post-war reconstruction, Vietnam and Sweden have now formed a trade relationship, becoming long-term and reliable partners. Sweden is also one of the first European countries to establish diplomatic relations with the Vietnamese Government.
Source: https://tuoitre.vn/binh-dinh-don-du-an-ti-usd-tu-nha-dau-tu-thuy-dien-20250425104113716.htm
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