An Phat Holdings JSC (APH), An Son Textile Fiber JSC and Petrovietnam’s Petrochemical and Textile Fiber Joint-Stock Company (PVTEX) officially introduced the new AnPoly yarn at Dinh Vu polyester fibre plant on Friday, paving the way to re-opening the whole plant in 2019.
AnPoly, a draw textured yarn, is the first achievement of co-operation in the process of re-opening the plant. The plant, located in the northern Hai Phong port city was one of 12 losing projects under the Ministry of Industry and Trade.
AnPoly yarn is made on a modern technology line imported from G7 countries with stable quality and flexible sales policies. It is expected the plant will reach a capacity of 400 tonnes of AnPoly yarn per month to service the local garment market and export to Japan, South Korea and Pakistan.
During the ceremony, APH and An Son signed a contract to supply the yarn to Hop Long Company Limited.
The launch marked a new development period for the plant since its co-operation with An Phat Holdings JSC and An Son Textile Fiber JSC. Experts from Singapore and India as well as An Son’s team worked at the plant to provide financial support, production planning, machine maintenance and workforce training.
The co-operation between APH and PVTEX played an important role in doubling the monthly capacity of the plant to 400 tonnes of DTY just four months after the first facility resumed operations.
The parties plan to increase the number of manufacturing lines to 10 and bring capacity to 700-750 tonnes per month by the end of this quarter. Furthermore, the operators plan to re-open the remaining workshops and start manufacturing polyester staple fibre (PSF) on total 29 production lines with a capacity of 1,800 tonnes per month in the first quarter of 2019. In addition, they will be active in negotiating to restart the rest of the plant next year.
Speaking at the ceremony, Pham Anh Duong, An Phat Holdings’s chairman, said the group had strived for the success of the project to contribute to economic growth.
“A new road was opened for Dinh Vu polyester fibre plant,” he said.
Dao Van Ngoc, PVTEX’s chairman and general director, added that the stable operation of the polyester production line and its increasing revenue had been the evidence of the plant’s operation and management ability.
On November 5, Deputy Minister of Industry and Trade Dang Hoang An paid a working visit to the plant. He said the parties had done well to co-operate effectively.
PVTEX, a subsidiary of PetroVietnam with a total investment capital of US$325 million, started commercial operations in May 2014 with a capacity of 236 tonnes of fibre per day, reaching 48 per cent of the designed capacity.
The plant halted operations in September 2015 owing to a huge loss of VND1.26 trillion ($55.3 million) and negative equity of VND504 billion.
It was scheduled to restart in 2016 but failed to do so. Authorities would have considered bankruptcy if the equitisation of the enterprise had been unsuccessful.
PVTex and APH signed a memorandum of co-operation on producing and trading Dinh Vu polyester fibre on April 27. — VNS