On June 7, the Management Board of Binh Dinh Economic Zone granted an investment certificate to Syre Impact AB Group’s polyester recycling complex project with a total capital of nearly VND 25,000 billion (equivalent to 1 billion USD).
Chairman of Binh Dinh People’s Committee Pham Anh Tuan (sitting on the right) and Syre Group CEO sign a cooperation investment MOU on April 25 |
The project is located in Nhon Hoi Economic Zone (Quy Nhon City), using advanced technology from the US, specializing in recycling textile waste into PET plastic granules – raw material for the textile industry. The designed capacity reaches 150,000 – 250,000 tons of products per year.
This is one of the largest green industrial projects in the Central Coastal region, expected to contribute to building a clean and environmentally friendly supply chain for the global textile industry.
According to the investment certificate, the complex will be built on an area of nearly 29 hectares, with a duration of 50 years. From now until the end of 2026, the investor is expected to complete legal procedures, planning, and environmental assessment; the construction and equipment installation phase will take place from early 2027 to the end of 2028. The project is expected to be officially operational in 2029.
Previously, on April 25, Binh Dinh Provincial People’s Committee and Syre Impact AB Group signed a memorandum of understanding to implement the project. Syre Impact AB representative said that polyester is the most popular fiber in the textile industry but also puts a lot of pressure on the environment. Therefore, the construction of a recycling plant in Binh Dinh is a strategic step in building a circular supply chain, reducing emissions, and optimizing resources.
Duc Anh
– 17:30 06/07/2025
