On April 25 in Quy Nhon City, the People's Committee of Binh Dinh Province and Syre Group (Sweden) held a signing ceremony for a memorandum of understanding on investment cooperation in a polyester fabric recycling complex project. This project is part of Syre's strategy to build a global gigascale recycling plant chain.
Chairman of Binh Dinh Provincial People's Committee Pham Anh Tuan and Mr. Dennis Nobelius - General Director of Syre Group, signed the memorandum of understanding on investment cooperation.
The project has a capacity of about 250,000 tons/year, a total investment of 1 billion USD, and is expected to be operational by the end of 2028. Applying advanced technology according to US and EU standards, it produces recycled polyester with quality equivalent to virgin polyester, superior in sustainability, creating hundreds of high-quality jobs and completing a closed cycle from textile waste to recycled polyester fiber.
Ms. Susanna Campbell - President of Syre Group, said that developing green and circular orientation is a common goal of countries around the world and is also what helps Vietnam affirm its position in green energy development.
Ms. Susanna Campbell emphasized that Syre has purchased advanced technology from the US and expressed her desire to build a long-term relationship with Binh Dinh, taking advantage of the strong relationship between Vietnam and Sweden to develop the project.
Speaking at the signing ceremony, Chairman of Binh Dinh Provincial People's Committee Pham Anh Tuan said that with the spirit of speed and high responsibility of both sides, the locality will be determined and urgent to implement the project in the best conditions.
At the same time, he committed to coordinate in resolving legal procedures, especially regarding the import of recycled fabrics. And he asked Syre to maximize the use of domestic materials and keep his commitment to make the project a symbol of green transformation in the textile industry.
Previously, on April 23, Prime Minister Pham Minh Chinh received leaders of Syre Group and Binh Dinh province, welcoming the project because it is consistent with the circular economy orientation and green energy transition, evaluating Binh Dinh as an ideal location with synchronous infrastructure, seaports, international airports and abundant clean energy. The project promises to become a symbol of Vietnam - Sweden cooperation, contributing to upgrading diplomatic relations and promoting sustainable development.
Ambassador of the Kingdom of Sweden to Vietnam Johan Ndisi: Sweden is one of the first European countries to establish relations with Vietnam, investing more than 3 billion USD with more than 70 businesses present. Syre's project in Binh Dinh will promote green transformation, enhancing the strategic partnership between the two countries, especially in science and technology and circular economy. Binh Dinh Provincial Party Secretary Ho Quoc Dung: The biggest problem is importing raw fabric for production, the province will work with ministries and branches to adjust regulations accordingly. The project is not only a symbol of Vietnam - Sweden cooperation in the green industry, the circular world but also contributes to upgrading diplomatic relations between the two countries in the near future. |
Source: https://doanhnghiepvn.vn/doanh-nghiep/tap-doan-syre-dau-tu-to-hop-tai-che-vai-1-ty-usd-tai-binh-dinh/20250425074612493
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