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Vinatex IDC begins construction of new garment factory
19 Feb '14
1 min read
Vinatex Investment and Development Company (Vinatex IDC), a subsidiary of Vietnam National Textile and Garment Group (Vinatex), has commenced construction of a new garment factory at Thanh Loc Industrial Zone in the southern province of Kien Giang, this month.
The new clothing factory will be built on an area of 36,500 sq m at a cost of 150 billion dong (about US$ 7.05 million).
The Kien Giang factory is part of the ‘300 sewing lines’ project assigned to Vinatex by the Government of Vietnam.
It is also part of Vinatex’s strategy to reach $5 billion in export turnover by 2016.
When operational, the Kien Giang apparel factory is expected to employ 2,225 people, and generate 200 billion dong in revenue, while contributing 2.3 billion dong to the state’s exchequer.
In 2013, Vinatex’s garment and textile exports increased by 12 percent year-on-year to $2.9 billion.
Currently, the Group is focusing on producing and exporting high-quality textile and clothing products, and reducing the use of imported materials.
Fibre2fashion News Desk - India
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