An Phat Holdings takes Dinh Vu polyester plant to new stage

08:00 | 19/11/2018
Thanks to the support of An Phat Holdings, the Dinh Vu polyester plant developed by PVTex has been removed from the list of 12 loss-making projects and started stable operations.   
an phat holdings takes dinh vu polyester plant to new stage
Dinh Vu polyester plant has made it off the blacklist of the notorious 12 loss-making projects

PVTex acquires first sweet fruits

On November 16, An Phat Holdings JSC (APH), An Son Textile Fiber JSC, and PVTex organised the launching ceremony of the new AnPoly yarn manufacturing line at Dinh Vu polyester plant, marking the first major achievement of the co-operation between APH, An Son, and PVTex in resuming the operations of the plant.

AnPoly yarn is manufactured by a modern manufacturing line imported from G7 countries, thus its quality will meet the strictest requirements of both local and foreign customers.

an phat holdings takes dinh vu polyester plant to new stage
Nguyen Hoang Anh, chairman of the State Capital Management Committee

According to the plan, the capacity of AnPoly yarn workshop will reach 400 tonnes per month, and the products will be distributed in the local market and will be exported to Japan, South Korea, and Pakistan. In the framework of the launching ceremony, APH and An Son signed a contract to supply AnPoly yarn to Hop Long Company Limited.

Launching AnPoly yarn marks a definitive step forward in the development of Dinh Vu polyester plant since APH and An Son entered into co-operation with PVTex.

The Dinh Vu polyster plant came into commercial operation in May 2014 with a capacity of 236 tonnes of polyester fibre and yarn per day, equalling 48 per cent of its designed capacity.

an phat holdings takes dinh vu polyester plant to new stage
Pham Anh Duong, chairman of An Phat Holdings

The factory came into pilot operation in May 2014, however, it faced difficulties in maintaining operations due to unsold products piling up. As a result, the plant had to suspend operations and suffered a loss of VND1.085 trillion.

New path for Dinh Vu polyester plant

In April 2018, APH became the strategic partner of PVTex to resume the operations of Dinh Vu polyester plant, in collaboration with partners from Singapore and India.

After the signing ceremony, APH provided finances and human resources to take three drawn textured yarn (DTY) manufacturing lines into operation.

In July 2018, parties reached a compromise to launch 29 DTY manufacturing lines, not only to resume but to even increase the total capacity to 60 tonnes of yarn per day or 1,800 tonnes per month.

an phat holdings takes dinh vu polyester plant to new stage
The MoU signining ceremony between An Son an PVTex

The plant currently has 2,000 employees and the factory officially doubled the capacity of its drawn textured yarn (DTY) workshop to a total of six manufacturing lines and a capacity of 400 tonnes of DTY per month.

The parties plan to increase the number of manufacturing lines to 10 and capacity to 700-750 tonnes per month by the end of this quarter. Furthermore, the operators plan to resume the remaining workshops and start manufacturing polyester staple fibre (PSF) by the end of 2019.

an phat holdings takes dinh vu polyester plant to new stage
Visiting to the workshops

Pham Anh Duong, chairman of An Phat Holdings, said, “With the hope of contributing to the socioeconomic development of the country, we will strive to ensure the smooth operation of Dinh Vu polyester factory. The new development path of the plant has just started and we believe in success.”

Nguyen Hoang Anh, chairman of the State Capital Management Committee, said, “AnPoly is a high-quality product, which can be exported. I believe in the development potential of the plant.”

By Minh Vui

Based on MasterCMS Ultimate Edition Ver 2.8 2018