Binh Dinh and Syre Group signed a memorandum of understanding on fabric recycling production project.

The General Director of Syre Group affirmed that the project in Binh Dinh will use one of the most advanced recycling technologies in the textile industry.

Committed to continuing to address recommendations

In Binh Dinh province, the People's Committee of Binh Dinh province and Syre Group (Sweden) have just held a signing ceremony of a Memorandum of Understanding on investment cooperation for the Polyester Fabric Recycling Production Complex Project in Binh Dinh.

Speaking at the signing ceremony, Binh Dinh Provincial Party Secretary Ho Quoc Dung informed that the project received high appreciation from the Prime Minister and ministries.

Binh Dinh Provincial Party Secretary Ho Quoc Dung (center) speaks at the signing ceremony.

Regarding the biggest problem of importing fabric materials, the Secretary of Binh Dinh Provincial Party Committee said that the Prime Minister has given instructions, and the province is currently coordinating and promoting with ministries and branches to adjust appropriate mechanisms.

Regarding renewable energy supplied to the project, Binh Dinh is also a renewable energy center that has completed projects and is qualified to supply the Group's Project. "The proposed Project capacity is less than 70 MW, we currently have excess capacity," the Secretary of the Binh Dinh Provincial Party Committee emphasized.

Regarding factory construction land, Binh Dinh already has 7 industrial parks available for investors to choose from. At the same time, industrial parks in the province have very cheap rental prices.

“At today’s meeting, I believe that with the Group’s prestige, experience and pioneering mission, and with the Chairman’s commitment to the Prime Minister, we believe that we will successfully implement the project. This will be a symbol of Vietnam-Sweden cooperation in the green industry and circular economy ,” the Binh Dinh Provincial Party Secretary expected.

Scene of the signing ceremony between Binh Dinh Provincial People's Committee and Syre Group.

Reviewing the milestones in the project implementation starting from December 13, 2024 (the first working day of the province with Mr. Nguyen Thanh Long, General Director of Houselink Joint Stock Company - the consulting unit) to the MOU signing ceremony, Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee said that this result shows the determination of Binh Dinh province in supporting this project in particular and upcoming projects.

On the business side, the Chairman of Binh Dinh Province requested that “The Group properly implement the Prime Minister’s directives on circular economy, green economy, environmental protection and maximum use of domestic scrap for recycling in each phase. We hope that Syre Group will keep its commitment to be a symbolic project of green and circular transformation in the textile industry”.

At the same time, the Chairman of Binh Dinh province hopes that the previous phase has been implemented at lightning speed, so the next phase will be faster to gain the support of the Government leaders; at the same time, after the signing ceremony, the two sides will have a timeline - a detailed list of each task and the completion time to quickly report to the Prime Minister and ministries to handle related issues regarding legal regulations.

Representatives of Binh Dinh Provincial People's Committee and Syre Group signed a memorandum of understanding on investment cooperation.

“The Group completed the project early, demonstrating the circular economy, green transformation, high-tech application and environmental protection in this project to send to ministries and branches for appraisal,” the Chairman of Binh Dinh province emphasized once again.

Iconic project in the textile industry

Reporting on the signing ceremony, Ms. Susanna Campbell, President of Syre Group, said that developing in a green and circular direction is a very new direction and is also the direction that all companies in the world are pursuing. This is also the direction that will help Vietnam affirm itself in the development system of circular economy and green growth.

Ms. Susanna Campbell, President of SYRE Group, affirmed that the group's projects are oriented towards sustainable development.

“The textile industry today needs to develop in a more sustainable direction and the Syre Group Project is developed based on that idea,” said Ms. Susanna Campbell.

According to the Chairman of Syre Group, polyester is one of the most widely used fibers in the textile industry. At the same time, since May 2021, Syre Group and H&M have been working together to solve problems related to the sustainable development of the textile industry.

On the technology side, Syre Group has acquired technology from an American technology development company.

“We are looking forward to starting a relationship between the province and the company to work together to solve upcoming issues. With the long-standing and strong development of the Vietnam-Sweden relationship, I believe that today we can develop a similar relationship between the province and Syre,” affirmed the Chairman of Syre Group.

Sharing more about the project, Mr. Dennis Nobelius, General Director of Syre Group mentioned that the group's initial goal was to form and develop the world's first large-scale factory. After much research, Syre Group chose Vietnam as its first investment destination.

Mr. Dennis Nobelius, General Director of Syre Group, shared about the technology that the group used in the project.

Mr. Dennis Nobelius also shared the reason for choosing Vietnam because firstly, Vietnam has a very dynamic economy; secondly, the textile and garment sector is also one of the most developed sectors here.

“We chose Binh Dinh as the investment location to continue the group's next work,” said Mr. Dennis Nobelius.

The General Director of Syre Group also informed about the issue that received attention from the project, which is recycling technology.

Specifically, Mr. Dennis Nobelius informed that regarding technology research and development, the Group has researched more than 20 types of technology used for the textile recycling industry.

“The current technology that we have decided to use will be one of the most advanced technologies among those used in the textile recycling industry,” affirmed the General Director of Syre Group.

Along with that, in production, Syre Group will use textile scraps and from there will recycle them to produce a new type of polyester fiber.

“For textile waste, we really hope to accompany the province to solve the problem related to textile waste treatment in Vietnam. We know that most textile waste in Vietnam is being landfilled,” said Mr. Dennis Nobelius.

The General Director of Syre Group also had recommendations related to the project implementation process.

Specifically, regarding the issue of collecting textile waste with Vietnam's green development orientation, Syre Group wants to be deployed with a special mechanism so that businesses can import input materials in the production process.

Regarding the project timeline, Syre Group hopes to have an import license within the next 6 months as well as choose the most suitable industrial park location for the group's investment location.

“Our project in Binh Dinh, we really hope this is a symbolic project of the group in the strategic development and expansion of the group worldwide. We believe that choosing to invest in Binh Dinh province is a good choice and hope that in the next phase we will receive support and companionship from the provincial leaders, departments and branches for the project”, the General Director of Syre Group wishes.

Also at the signing ceremony, Mr. Johan Ndisi, Ambassador of the Kingdom of Sweden to Vietnam, informed that as of today, Sweden has invested more than 3 billion USD and there are more than 70 Swedish companies currently present in Vietnam.

Mr. Johan Ndisi, Ambassador of the Kingdom of Sweden to Vietnam, spoke at the signing ceremony.

The Ambassador of the Kingdom of Sweden to Vietnam also believes that with the aim of green transformation, the Syre Group Project will be one of the responded projects that will help develop and perfect the clean transformation orientation in the textile industry.

“With technological development and a focus on high-tech development, I believe that Syre's project will help Vietnam become one of the leading countries in the world in developing a circular economy in the textile and garment industry,” said the Ambassador of the Kingdom of Sweden to Vietnam.

The Polyester Fabric Recycling Complex Project in Binh Dinh has a capacity of 250,000 tons/year.
The project aims to build Vietnam into the first global center for circular textiles, applying high technology according to US and EU standards, following the direction of sustainable development, achieving the goal of net zero emissions; thereby, making Vietnam a leading country in developing a circular economy.
This MoU marks a commitment to work together between Binh Dinh Province and Syre to ensure that key conditions and criteria are met for Syre to make a decision to invest in the construction of its first giga-recycling plant. Key criteria include an industrial park close to infrastructure; green energy sources; input materials (recyclable textile products), as well as a pilot mechanism for licensing the import of recycled textile materials from neighboring countries.

Source: https://baodautu.vn/binh-dinh-va-tap-doan-syre-ky-ket-ghi-nho-du-an-san-xuat-tai-che-vai-d273344.html