Workers pack polyester fibre for export at Ha Nam Textile Company in Chau Son Industrial Park. The demand for polyester fibre of Vietnamese enterprises has been growing 10 percent to 15 percent annually. (Photo: VNA)Hanoi (VNA) - The DinhVu Polyester Fibre Plant is scheduled to restart production soon after aprolonged suspension of operations.
The Vietnam National Oil and Gas Group (PetroVietnam), holding 75 percentof the capital at the 325-million USD plant, held a meeting recently with the VietnamNational Textile and Garment Group (Vinatex) to discuss a fibre consumptionsolution for the plant.
Vinatex Chairman Tran Quang Nghi said that the fibre consumptionof the plant was not only a matter of cooperation, but also of responsibility.Vinatex has always affirmed its support for the plant by consuming its fibreproducts.
Vinatex general director Le Tien Truong said that the demand forthe polyester fibre of Vietnamese enterprises had been growing 10 percent to 15percent annually. It had a consistent steady growth rate in the past few years.Depending on the cotton prices in the world market, the demand for polyesterfor spinning may increase or decrease, but the percentage of demand betweencotton and polyester is stable at about 60/40, respectively.
Currently, Vietnam needs to import some 700,000 tonnes of cottonper year and about 400,000 tonnes of polyester fibre.
[Fibre, yarn exports surge over last 7 months]
In 2015 and 2016, with the steady investment by foreign companiesin the domestic yarn industry, the country had about 7 million spindles, doublethe numbers in 2015.
On the other hand, fibre prices have ranged from 1,100 USD to 1,120USD per tonne, 200 USD higher than the fibre prices in 2015. Meanwhile, the costof material for producing polyester fibre was also lower than the price ofmaterial in 2015.
"These are important considerations in determining the timefor recovering operations at the Dinh Vu Polyester Fibre Plant," Truongsaid.
He also affirmed that Vinatex would increase the volume ofpolyester fibre products bought from the plant to 100 percent from the currentlevel, or at least by 50 percent according to its commitment in the past, ifthe plant ensures quality and stability, and fulfils the commitments on paymentand delivery as in 2014 and 2015.
Vinatex and the Vietnam Textile and Garment Institute willcontinue to support the plant to control the quality of its products and designunits to test the fibre at the weaving and dyeing stages.
PetroVietnam’s General Director Nguyen Vu Truong Son also pledgedto restart operations of the plant as soon as possible and ensure the stabilityof polyester fibre supply to local enterprises.
PetroVietnam has proposed to the Prime Minister the possible measuresto recover the production of the plant. Meanwhile, Vinatex will provideinformation about consumption for PetroVietnam to determine the best plan forre-operation of the plant.
The plant is one of the 12 projects that suffered losses in theindustry and trade sector, and PetroVietnam is determined to restart productionat this plant soon.-VNA
In 2015 and 2016, with the steady investment by foreign companiesin the domestic yarn industry, the country had about 7 million spindles, doublethe numbers in 2015.
On the other hand, fibre prices have ranged from 1,100 USD to 1,120USD per tonne, 200 USD higher than the fibre prices in 2015. Meanwhile, the costof material for producing polyester fibre was also lower than the price ofmaterial in 2015.
"These are important considerations in determining the timefor recovering operations at the Dinh Vu Polyester Fibre Plant," Truongsaid.
He also affirmed that Vinatex would increase the volume ofpolyester fibre products bought from the plant to 100 percent from the currentlevel, or at least by 50 percent according to its commitment in the past, ifthe plant ensures quality and stability, and fulfils the commitments on paymentand delivery as in 2014 and 2015.
Vinatex and the Vietnam Textile and Garment Institute willcontinue to support the plant to control the quality of its products and designunits to test the fibre at the weaving and dyeing stages.
PetroVietnam’s General Director Nguyen Vu Truong Son also pledgedto restart operations of the plant as soon as possible and ensure the stabilityof polyester fibre supply to local enterprises.
PetroVietnam has proposed to the Prime Minister the possible measuresto recover the production of the plant. Meanwhile, Vinatex will provideinformation about consumption for PetroVietnam to determine the best plan forre-operation of the plant.
The plant is one of the 12 projects that suffered losses in theindustry and trade sector, and PetroVietnam is determined to restart productionat this plant soon.-VNA
VNA
