MOSCOW (MRC) -- Hyosung Vietnam wants to invest in a carbon fiber factory project in Phu My 2 Industrial Park, Phu My Town with a total capital of nearly 1 billion USD. Investment capital in the first stage is about 160 million dollars, said Vietnam.postsen.
On the afternoon of July 21, Mr. Nguyen Van Tho, Chairman of the Provincial People’s Committee received and worked with the delegation of Hyosung Vietnam Co., Ltd and Hyosung Vina Chemical Co., Ltd. to exchange some contents related to the implementation of projects in Ba Ria-Vung Tau province.
According to the representative of Hyosung Vietnam Co., Ltd., it is expected that Hyosung Vietnam will invest in a carbon fiber factory project in Phu My 2 Industrial Park, Phu My Town with a total capital of nearly 1 million USD. billion USD. Investment capital in the first stage is about 160 million dollars.
At the meeting, the representative of Hyosung Vietnam Co., Ltd. asked the province to guide the implementation of documents and procedures to apply for a project investment policy, and asked a number of questions related to the project implementation process.
Mr. Nguyen Van Tho welcomed Hyosung Group as well as its businesses for their interest in choosing Ba Ria-Vung Tau province as an investment destination. Chairman of the Provincial People’s Committee highly appreciated Hyosung Vietnam Chemical Co., Ltd. in the process of implementing the project of Polypropylene (PP) Factory and Hyosung LPG underground storage in Cai Mep Industrial Park for its efforts to ensure the project goes into operation on schedule as committed.
The Chairman of the Provincial People’s Committee said that Ba Ria-Vung Tau will support businesses to soon implement the carbon fiber factory project, and at the same time assign relevant units to coordinate to guide enterprises to complete the application in the correct order and procedures.
We remind, Hyosung TNC Corp., a South Korean textile and yarn manufacturer, is teaming up with Samsung Electronics Co. to produce eco-friendly protective clothing made from recycled PET bottles. The bottles, collected from nearby cities like Hwaseong and Suwon, including Samsung Electronics semiconductor plants, will be transformed into Regen, a recycled fiber developed by Hyosung TNC. About 10 million bottles will be recycled for the production of eco-friendly protective clothing.