Interviews
US textile firm investment to provide 10,000 jobs
25 Apr '06
2 min read
World's second leading company manufacturing textile looms, International Textile Group (ITG), announced plans to set up a unit in Nicaragua, according to Enrique Bolaños Geyer, Nicaragua Presidencia de la República (Presidency Republica of Nicaragua).
The said unit will come up at an investment of US $100 million and will provide more than 10,000 jobs.
President Bolaños emphasized the unit is important not only a provider of jobs but will produce hundreds of products with value addition besides increasing of the exports from the textile sector.
This is also for the first time that a composite unit manufacturing fabrics in the country will come up, along with spinning, weaving and dyeing facilities.
Besides, cotton is available home grown in the coutry itself.
The President of the Republic informed that since the country implemented the DR-CAFTA Agreement last April 1, 2006, Nicaragua has been able to attract over $153 million of direct foreign investment.
This speaks volumes about the competitive costs of manufacturing within the country and about the efficient and productive labor available.
Greensboro, North Carolina based ITG is a diverse, innovative provider of global textile solutions and distinguished fabric brands to apparel, interior furnishing and industrial markets worldwide.
The said unit will come up at an investment of US $100 million and will provide more than 10,000 jobs.
President Bolaños emphasized the unit is important not only a provider of jobs but will produce hundreds of products with value addition besides increasing of the exports from the textile sector.
This is also for the first time that a composite unit manufacturing fabrics in the country will come up, along with spinning, weaving and dyeing facilities.
Besides, cotton is available home grown in the coutry itself.
The President of the Republic informed that since the country implemented the DR-CAFTA Agreement last April 1, 2006, Nicaragua has been able to attract over $153 million of direct foreign investment.
This speaks volumes about the competitive costs of manufacturing within the country and about the efficient and productive labor available.
Greensboro, North Carolina based ITG is a diverse, innovative provider of global textile solutions and distinguished fabric brands to apparel, interior furnishing and industrial markets worldwide.
Nicaragua Presidencia de la República
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