Vinatex is looking to build the first polyethylene (PE) fibre plant in Vietnam, to serve domestic textile and apparel production.
Construction of the plant, which will be a joint venture between Vinatex and Vietnam Gas and Petrolium Group PetroVietnam, is scheduled for the second quarter of 2008 at Dung Quat Economic Zone near Dung Quat oil refinery complex.
The PE fibre plant will cost VND3,000bn (US$187.5m), and production of the fibres themselves will use petrochemical products from Dung Quat Oil refinery complex.
Vietnam's textile and garment industry has previously performed stages like reeling fibre, knitting, dyeing, but PE fibre production is an entirely new field for the country.
Showing posts with label Industries. Show all posts
Showing posts with label Industries. Show all posts
Sunday, February 22, 2009
Nexans to reap 80 million USD this year
Nexans Group in Viet Nam plans to earn US$80 million in revenue this year, up 10 per cent from last year.
The group has set up three joint ventures in the country, including Nexans Vietnam, Nexans Lioa and Nexan Telecom.
Nexans Global, which supplies cables and cable systems, committed to making Viet Nam a key investment destination in the region, said Michel Lemaire, deputy chairman of Nexans in the AsiaPacific region.
The group has set up three joint ventures in the country, including Nexans Vietnam, Nexans Lioa and Nexan Telecom.
Nexans Global, which supplies cables and cable systems, committed to making Viet Nam a key investment destination in the region, said Michel Lemaire, deputy chairman of Nexans in the AsiaPacific region.
South Korea's STX Group said on Tuesday it would set up a manufacturing base in Vietnam, investing $150 million by 2015, to expand its offshore plant
South Korea's STX Group said on Tuesday it would set up a manufacturing base in Vietnam, investing $150 million by 2015, to expand its offshore plant business.
STX Group's three flagship companies, STX Corp., STX Shipbuilding Co. and STX Engine, will invest in the project, said a spokesman from the heavy industry and shipping-focused business group.
The group has won the Vietnamese government's approval to set up a unit, STX-VINA Heavy Industry, which will mostly focus on offshore plant construction. It is yet to be decided whether STX Group would build ships from the Vietnam unit, the spokesman added. (Reuters)
STX Group's three flagship companies, STX Corp., STX Shipbuilding Co. and STX Engine, will invest in the project, said a spokesman from the heavy industry and shipping-focused business group.
The group has won the Vietnamese government's approval to set up a unit, STX-VINA Heavy Industry, which will mostly focus on offshore plant construction. It is yet to be decided whether STX Group would build ships from the Vietnam unit, the spokesman added. (Reuters)
PetroVietnam to buy two oil wells overseas
The National Oil and Gas Corporation (PetroVietnam) has taken bidding procedures to buy an oil well in Azerbaijan and if winning the contract, it will start tapping oil this year, PetroVietnam General Director Tran Ngoc Canh has announced.
At a press briefing on Jan. 21, Canh added that his corporation is negotiating with Kazakh, Venezuelan and Irani partners on purchase of the second oil well overseas with the aim of achieving an output of 16 million tonnes of crude oil this year.
Exploration is one of PetroVietnam’s top priorities in 2008 with its special focus being paid to seeking new investment opportunities in overseas oil and gas projects, he said.
PetroVietnam has so far signed 13 overseas exploration and exploitation projects and is targeting to set up a joint venture company in Iran , he added.
PetroVietnam pumped almost 22.7 million tonnes of oil in 2007, 100,000 tonnes of which were tapped in foreign countries. It also exported more than 15.7 million tonnes of oil for 8.8 billion USD.
At a press briefing on Jan. 21, Canh added that his corporation is negotiating with Kazakh, Venezuelan and Irani partners on purchase of the second oil well overseas with the aim of achieving an output of 16 million tonnes of crude oil this year.
Exploration is one of PetroVietnam’s top priorities in 2008 with its special focus being paid to seeking new investment opportunities in overseas oil and gas projects, he said.
PetroVietnam has so far signed 13 overseas exploration and exploitation projects and is targeting to set up a joint venture company in Iran , he added.
PetroVietnam pumped almost 22.7 million tonnes of oil in 2007, 100,000 tonnes of which were tapped in foreign countries. It also exported more than 15.7 million tonnes of oil for 8.8 billion USD.
Foreign investment in Vietnam's apparel disappoints
Vietnam’s textile sector lured much less foreign capital than expected after the country joined the World Trade Organization, according to the annual report of the Association of Garment Textile Embroidery-Knitting.
Foreign investors were reluctant to invest in the industry because of concerns about the U.S government’s monitoring program which applies to certain categories of Vietnam’s textile and apparel products, said the report, which was released Thursday.
Foreign investors committed to invest about US$388 million in 76 projects in 2007, he said.
The commitment represents about two percent of Vietnam’s $20.3 billion record foreign direct investment last year.
Total investment in the sector amounts to about $5.4 billion.
The sources said foreign investment mainly focused on manufacturing items such as fabric, buttons and thread.
Manufacturing, which relies heavily on imports, is the sector’s weakest area.
The top foreign investors by nation were Taiwan with $2.3 billion, Korea with $1.6 billion and Hong Kong with $400 million.
Foreign investors were reluctant to invest in the industry because of concerns about the U.S government’s monitoring program which applies to certain categories of Vietnam’s textile and apparel products, said the report, which was released Thursday.
Foreign investors committed to invest about US$388 million in 76 projects in 2007, he said.
The commitment represents about two percent of Vietnam’s $20.3 billion record foreign direct investment last year.
Total investment in the sector amounts to about $5.4 billion.
The sources said foreign investment mainly focused on manufacturing items such as fabric, buttons and thread.
Manufacturing, which relies heavily on imports, is the sector’s weakest area.
The top foreign investors by nation were Taiwan with $2.3 billion, Korea with $1.6 billion and Hong Kong with $400 million.
More oil struck at Black Lion site
Thang Long Joint Operating Co discovered a new oil field at the Block 15-2/01, Hai Su Den (Black Lion) site, some 60km offshore southern Binh Thuan and Ba Ria - Vung Tau provinces.
The volume of the new oil field’s reserve has not yet been reported, according to Thang Long JOC.
Thang Long JOC, established in 2005, was a joint venture between PetroVietnam Exploration Production Corporation (PVEP) owning 40 per cent and Talisman Energy Co of Canada, holding the remaining 60 per cent.
The joint venture’s officials declined to elaborate on the discovery.
Thang Long JOC has drilled three wells at Hai Su Trang (White Merlion) Oil Field with a total output of 7.57 million tonnes of oil.
The volume of the new oil field’s reserve has not yet been reported, according to Thang Long JOC.
Thang Long JOC, established in 2005, was a joint venture between PetroVietnam Exploration Production Corporation (PVEP) owning 40 per cent and Talisman Energy Co of Canada, holding the remaining 60 per cent.
The joint venture’s officials declined to elaborate on the discovery.
Thang Long JOC has drilled three wells at Hai Su Trang (White Merlion) Oil Field with a total output of 7.57 million tonnes of oil.
Companies bond for improved services
German-based TUVRheinland Viet Nam have signed a co-operation agreement with Philippines-based ECC International (ECCI) to affirm their long term commitment to provide further technical assistance to the information and communications technology industry in Viet Nam.
The short term goals of the parties will be to promote a range of products and services provided by ECCI and TUVRheinland Group to the ICT industry necessary for effective operation in the global market.
The longer term goals will assist companies develop themselves to boost economic growth and to convert the IT industry into one of the most important sectors in the country.
Back in 2003, the two companies had jointly conducted several standards based training and consulting assignments under the Public Private Partnership type of projects funded by the German NGOs in Viet Nam. One of those initiatives was the ICT Funding Project to increase the international competitiveness of Viet Nam’s ICT industry.
Eleven Vietnamese companies were selected to receive funding to set up a Comprehensive Quality Management Programme and a Comprehensive Information Security Programme.
TUVRheinland Group is an international business solutions provider for safety development and quality improvement in the interaction between man, technology and the environment.
ECCI is a knowledge-centred organisation for acquisition, development, packaging and dissemination. Its expertise is in productivity and quality, IT, environment health and safety, standards, human resources and organisational development. (VNS)
The short term goals of the parties will be to promote a range of products and services provided by ECCI and TUVRheinland Group to the ICT industry necessary for effective operation in the global market.
The longer term goals will assist companies develop themselves to boost economic growth and to convert the IT industry into one of the most important sectors in the country.
Back in 2003, the two companies had jointly conducted several standards based training and consulting assignments under the Public Private Partnership type of projects funded by the German NGOs in Viet Nam. One of those initiatives was the ICT Funding Project to increase the international competitiveness of Viet Nam’s ICT industry.
Eleven Vietnamese companies were selected to receive funding to set up a Comprehensive Quality Management Programme and a Comprehensive Information Security Programme.
TUVRheinland Group is an international business solutions provider for safety development and quality improvement in the interaction between man, technology and the environment.
ECCI is a knowledge-centred organisation for acquisition, development, packaging and dissemination. Its expertise is in productivity and quality, IT, environment health and safety, standards, human resources and organisational development. (VNS)
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