On June 13, the People's Committee of Binh Dinh province announced that Binh Dinh Provincial Party Secretary Ho Quoc Dung had presented the Investment Registration Certificate for the Polyester fabric Recycling Production Complex project to SYRE Impact AB Company, at the Vietnam - Sweden Business Forum held in the capital Stockholm (Sweden) on the afternoon of June 12.
The forum is a highlight activity during Prime Minister Pham Minh Chinh's official visit to the Kingdom of Sweden from June 12 to 14.
The ceremony took place under the witness of Prime Minister Pham Minh Chinh; Deputy Prime Minister Bui Thanh Son - Minister of Foreign Affairs; Minister of International Cooperation and Foreign Trade of Sweden Benjamin Dousa, and leaders of ministries and branches of the two countries.
The polyester fabric recycling complex project has a total investment of up to 1 billion USD (equivalent to about 24,970 billion VND), with the goal of recycling textile scrap into PET plastic granules to serve the environmentally friendly textile and garment industry. When put into stable operation, the factory is expected to reach a capacity of 150,000 to 250,000 tons of PET products per year.
This is one of the largest-scale projects in the field of textile waste recycling in Vietnam at present, demonstrating the strong commitment of Binh Dinh province in the investment attraction strategy associated with green transformation and sustainable development.
The project is expected to actively contribute to the goal of developing the circular textile and garment industry, creating more jobs for local workers and promoting industrial growth in the South Central region.
Previously, on the morning of June 12, Binh Dinh Provincial Party Secretary Ho Quoc Dung had a working session with Ms. Susanna Campbell - Chairman of Syre Group and the Board of Directors of Syre Company, to discuss the next steps for project implementation in Binh Dinh.
At the meeting, Mr. Ho Quoc Dung affirmed that the Government and Binh Dinh province are especially interested in and welcome SYRE Company to invest in the project in a green, clean direction, circular production, using modern technology and on-site labor, while making the most of textile and garment scrap to contribute to environmental protection.
Ms. Susanna Campbell - Chairman of Syre Group - said that currently, many investors have committed to contributing capital to the project such as H&M, TPG Rise Climate... She is committed to accompanying Binh Dinh province in the green transformation roadmap, applying advanced technology that meets international standards, using input materials such as waste and domestic textile scrap to develop the factory sustainably.
