A Memorandum of Understanding (MoU) to this effect was signed on April 25 between representatives of Syre and the People's Committee of Binh Dinh province.

The project aims to establish a large-scale facility that will recycle textile waste into polyester fibers, making Vietnam a global hub for circular textile manufacturing. It covers an area of ​​20 hectares and is expected to begin operation from 2028 with a design capacity of 250,000 tonnes per year.

According to Syre, it is a pioneer in textile recycling, committed to reducing carbon emissions and textile waste through a large-scale recycling process, starting with polyester. Its circular recycling solution produces polyester of equivalent quality to virgin polyester, but with superior sustainability.

During the MoU signing ceremony, Ho Quoc Dung, secretary of the Binh Dinh Provincial Party Committee, praised Syre’s strategic decision to invest in the province for a green, circular textile recycling plant. He emphasised that Binh Dinh has ample potential to develop industry, tourism, services, and agriculture, and assured full support for the project’s successful implementation.

“The signing ceremony signifies not only investment cooperation but also a shared commitment to green growth, a circular economy, and sustainable industry,” he said, adding that the locality has pledged maximum support for the group to successfully undertake the project, including importing raw materials and facilitating the use of renewable energy sources.

The MoU marks the beginning of a partnership between Binh Dinh and Syre, with both sides agreeing to move forward on issues such as raw material imports, renewable energy sources, and technological solutions for the plant.

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