SYRE Group, a subsidiary of H&M Garment Group, has announced plans to build a polyester textile recycling complex in Binh Dinh Province, Vietnam. Investment volume is approximately $1 billion.
The project aims to establish a Vietnamese closed-loop textile production hub compliant with US and EU standards. The facility is expected to be launched by the end of 2028.
According to SYRE Group representatives, the new plant will be part of the company's efforts to promote sustainable textile manufacturing in Asia. The project will utilize advanced technologies to minimize carbon emissions and reduce environmental impact.
An official representative of the company noted: "We are proud to contribute to the sustainable future of the textile industry by creating infrastructure for closed-loop fabric recycling."
Additionally, SYRE Group reported its intention to announce another project in the region in the future, expanding its footprint in Vietnam.