AsemconnectVietnam - Century Synthetic Fiber Coporation (code STK - HOSE) (Guarantee) announces information about Unitex Yarn, Textile and Dyeing Company Limited - its subsidiary (borrower) has successfully signed a syndicated loan with a total price worth USD52.5 million, equivalent to nearly VND1,233 billion.

This is the largest loan ever of the Company. This syndicated loan is cooperated and financed by 5 foreign banks in Asia led by CTBC Bank and Kasikorn Bank as the main credit arrangement and guarantee; Shanghai Commercial and Savings Bank (Offshore Banking Branch) and Entie Commercial Bank are the credit arrangement members and E.SUN Commercial Bank is the credit arrangement member.
CTBC Bank also acts as the coordinator and lead agent of this syndication contract.
This financial loan will help Century Synthetic Fiber Coporation to have enough capital to expand production capacity with the investment project of a new factory Unitex – phase 1.
Unitex factory has a capacity of 60,000 tons of yarn/year (phase 1: 34,000 tons/year; phase 2: 24,000 tons/year), mainly for the purchase of machinery, equipment and systems factory main system.
At present, the project has started construction and is expected to complete the installation of machinery and put into official operation phase 1 in the first quarter of 2024.
The above loan is funded in USD and has a loan term of 57 months and will be disbursed in 2023 and 2024.
Dang Trieu Hoa - General Director of Century Synthetic Fiber Coporation said that the capacity expansion project of Unitex factory was invested with the most advanced technology and increased the total capacity of the Company to double that of other factories (Cu Chi and Trang Bang factories). The project focuses on manufacturing and supplying high quality products, recycle yarn with special features and other value-added yarns to brand customers.
The factory is built, equipped and installed with highly automated systems such as the use of robots in production and packaging processes, helping the Company improve and stabilize product quality to customers, save money and reduce resource consumption and optimize production efficiency.
Besides, with the construction of a new factory, the Company will contribute to creating more jobs for local workers (estimated number of employees is 400).
In addition, the increase in the production rate of special environmentally friendly fibers such as Recycle, Recycle+ and Dope Dye yarns will help the Company increase the proportion of environmentally friendly recycled materials. (PET chip pellets recycled from used plastic bottles).
Thereby, cutting carbon footprint emissions by about 50% compared to traditional fibers, saving clean water sources, not discharging wastewater and chemicals into the environment, towards building a greener factory and in line with the sustainable development strategy of Vietnam's textile industry in particular and according to 17 sustainable development goals of the United Nations in general.
N.Nga
Source: VITIC/Tinnhanhchungkhoan