Work starts on yarn factory
Work starts on yarn factory
The Dong Nam Textile JSC, a subsidiary of the Vietnam National Textile and Garment Group (Vinatex), began construction of the first yarn factory in the southwestern region in Bac Lieu Province on Wednesday.
The factory, located in the Tra Kha Industrial Park in Bac Lieu City, has total investment capital of over VND500 billion (US$21.56 million) and is scheduled to be built in 24 months.
The first phase of the plant, with investment of VND275 billion, is designed to produce 3,500 tonnes of yarn each year when it begins operations in late 2019.
The annual production capacity will be raised to 4,500 tonnes in the second phase, which will have investment of VND238 billion.
The factory is expected to earn VND525 billion in revenue each year and provide 500 jobs for local people.
Chairman of the Board of Directors of Vinatex Tran Quang Nghi said the factory would be equipped with modern technologies from Europe, Japan and India, with its products looking to satisfy the textile-garment sector’s production and export demands.
