The “Polyester Fabric Production and Recycling Complex” project boasts a staggering investment of 1 billion USD (equivalent to approximately 24,970 billion VND). With a focus on recycling textile waste into PET resin, the project aims to foster an eco-friendly textile industry. Spanning across an area of 28.77 ha in Lot B4-B5, Nhon Hoi Industrial Park (Zone A), Quy Nhon City, the project is slated to have a significant impact.
In terms of timeline, Phase 1 (2025–2026) will involve completing legal, environmental, and planning procedures, while Phase 2 (2027–2028) will witness the construction of the factory and installation of equipment. During Phase 3 (2029), the project is expected to commence trial operations before officially launching. Once fully operational, the project is anticipated to achieve an impressive production capacity ranging from 150,000 to 250,000 tons of PET products annually.
Notably, this is one of the largest-scale projects in the history of Vietnam’s textile waste recycling industry. It is expected to make a substantial contribution to the country’s sustainable development and green transition within the textile sector. Additionally, the project is poised to create numerous local job opportunities and boost economic growth in the South-Central region. The project also underscores Binh Dinh province’s strong commitment to attracting investments aligned with green transformation and sustainability.
Mr. Ho Quoc Dung, Member of the Central Committee of the Communist Party of Vietnam and Secretary of Binh Dinh Provincial Party Committee, presents the Investment Registration Certificate for the “Polyester Fabric Production and Recycling Complex” project to SYRE Impact AB. Image source: Binh Dinh Portal
Prior to this, on June 12, Secretary of the Provincial Party Committee, Mr. Ho Quoc Dung, had a working session with Ms. Susanna Campbell, Chairman of Syre Group, and the company’s leadership team at the company’s headquarters to discuss the next steps for project implementation in Binh Dinh.
During the session, Mr. Ho Quoc Dung provided information about the Vietnamese government’s and Binh Dinh province’s keen interest in Syre’s investment in the green, clean, and circular production of polyester fabric, utilizing textile-related waste as feedstock (with a particular focus on maximizing the use of Vietnamese waste materials). He also discussed with the company the use of advanced technology, local labor, financial aspects, and the project’s contribution to local development.
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