Syre Group, a subsidiary of Swedish fashion giant H&M, is set to invest up to $100 million in building a high-tech textile recycling complex in Binh Dinh province, Vietnam. The facility aims to establish Vietnam as a global leader in circular textile manufacturing.
The planned “Gigascale” plant will have an annual capacity of 250,000 tonnes of recycled polyester from textile waste. This initiative aligns with Vietnam’s goals to diversify its markets and supply chains while promoting green and clean production. Prime Minister Pham Minh Chinh has endorsed the project, emphasizing the importance of utilizing locally sourced green materials like lotus and jute fibers, alongside recycled fabric scraps.
Syre’s investment reflects a growing global focus on sustainable fashion practices. The company leverages advanced technology and renewable energy to recycle textile waste, reducing the environmental impact of the fashion industry. The Binh Dinh factory, expected to be operational by the end of 2028, is projected to create up to 600 jobs, including skilled manufacturing positions and technical experts.
This project signals a significant step towards a circular economy in the textile sector, transforming waste into a valuable resource. Syre’s commitment to using local materials and strengthening supply chains is expected to boost Vietnam’s reputation as a hub for environmentally responsible manufacturing.
