Zhejiang Hailide New Material Co., Ltd. announced on October 9 that its subsidiary in Vietnam, Hailide (Vietnam) Co., Ltd., completed the registration and received the Enterprise Registration Certificate issued by Department of Planning and Investment, Tay Ninh, Vietnam, for the construction of differential polyester industrial filament project (phase I) with annual production of 110 thousand tons. 

The new company is located at Phuoc Dong Industrial Park, Tay Ninh, Vietnam and the registered capital is USD 10 Million. According to Hailide, the registered capital of this company will gradually be increased to USD 80 Million on the basis of the project investment process. The total investment of the project is USD 155 Million and 33 hectares of land will be newly acquired for the construction of 10.77m2 of spinning workshop, warehouse, etc. Hailide said that the polyester industrial filament project in Vietnam would be benefit for the global optimization and adjustment of production capacity.