Vietnam: Marubeni corp signs us$37.5m supply contract

Japan based Marubeni Corp has signed a contract worth more than US$37.5m supplying raw materials for Vietnam’s Dinh Vu polyester fibre plant in the northern port city of Hai Phong, including 18,000 tones PTA and 9,000 tones MEG.

These materials are served for trial running of the plant, which is planned to start official operations on 23 August this year, according to CEO of PVTex, Vu Dinh Duy.

Funded with $325m by PetroVietnam Petrochemical and Textile Fibre JSC (PVTex), a joint venture between Vietnam National Oil and Gas Group and Vietnam National Textile and Garment Group (Vinatex), the plant will supply materials for the domestic fibre industry and reduce dependence on imported materials.

The plant has received orders for all of its products, once they have been produced.

Tags: Marubeni Corp

Posted by VBN on Jun 28 2011. Filed under Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry