The Vietnam Oil and Gas Group (PetroVietnam) and the Shinkong Synthetic Fibers Corporation (SSFC) – an affiliate of Taiwan (China)’s Shin Kong Group signed a cooperation agreement via a video conference on February 4.

At the signing ceremony, PetroVietnam General Director Le Manh Hung pledged to offer all possible support to carry out the deal.

Praising the active and effective cooperation of the Vietnam PetroChemical and Fiber JSC (VNPoly) under the PetroVietnam with SSFC in producing drawn textured yarn (DTY), President of the Shin Kong Group Eric Woo also vowed to strongly step up the joint work.

In January last year, VNPOLY and SSFC inked a deal on producing DTY in Vietnam.

As of the late January 2021, PetroVietnam’s Dinh Vu polyester fiber plant produced over 3,900 tonnes of DTY, over 92% of them met AA quality standard.

With the support of the SSFC experts, VNPoly has been chosen by well-known fashion houses as a fiber supplier.

In the near future, SSFC and VNPoly will continue expanding production and operating all 27 DTY production chains from April as well as those for pre-oriented yarn (POY) and polyester staple fiber (PSF).