An Phat, PVTEX introduce new product at Dinh Vu plant
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 November 16.
Representatives of An Phat Holdings JSC, An Son Textile Fiber JSC and Petrovietnam Petrochemical and Textile Fiber JSC sign a contract to supply AnPoly yarn to Hop Long Company Limited (Photo: VNA)
Hanoi (VNA) - 🐬An Phat Holdings JSC (APH), An Son Textile FiberJSC and PetroVietnam’s Petrochemical and Textile Fiber Joint-Stock Company(PVTEX) officially introduced the new AnPoly yarn at Dinh Vu polyester fibreplant on November 16, paving the way to re-opening the whole plant in 2019.
AnPoly, a draw textured yarn, is the first achievement of cooperation in theprocess of re-opening the plant. The plant, located in the northern Hai Phongport city was one of 12 loss-making projects under the Ministry of Industry andTrade. It is expected the plant will reach a capacity of 400 tonnes of AnPoly yarnper month to service the local garment market and export to Japan, the Republicof Korea and Pakistan. During the ceremony, APH and An Son signed a contract to supply the yarn toHop Long Company Limited. The launch marked a new development period for the plant since its cooperationwith An Phat Holdings JSC and An Son Textile Fiber JSC. Experts from Singaporeand India as well as An Son’s team worked at the plant to provide financialsupport, production planning, machine maintenance and workforce training. The parties plan to increase the number of manufacturing lines to 10 andbring capacity to 700-750 tonnes per month by the end of this quarter. Furthermore, the operators plan to re-open the remaining workshops and startmanufacturing polyester staple fibre (PSF) on total 29 production lines with acapacity 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. PVTEX, a subsidiary of PetroVietnam with a total investment capital of 325million USD, started commercial operations in May 2014 with a capacity of 236tonnes of fibre per day, reaching 48 percent of the designed capacity.
The plant halted operations in September 2015 owing to a huge loss of 1.26trillion VND (55.3 million USD) and negative equity of 504 billion VND. ♔ It was scheduled to restart in 2016 but failed to do so. Authorities wouldhave considered bankruptcy if the equitisation of the enterprise had beenunsuccessful.
PVTEX and APH signed a memorandum of co-operation on producing and tradingDinh Vu polyester fibre on April 27.-VNA
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Representatives of An Phat Holdings JSC, An Son Textile Fiber JSC and Petrovietnam Petrochemical and Textile Fiber JSC sign a contract to supply AnPoly yarn to Hop Long Company Limited (Photo: VNA) 
