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TAL gets nod for setting up $50mn textile plant in Vietnam
10
Nov '14
Photo courtesy: Vietnam Investment Review
Photo courtesy: Vietnam Investment Review
Singapore TAL Apparel Limited has received green signal for setting up a US$ 50 million project to manufacture textiles, fabrics and garments in Vietnam’s northern province of Vinh Phuc, according to Vietnam Investment Review.
 
The new textile plant would be built on an 8-hectare land in Vinh Phuc province’s Ba Thien 2 Industrial Park.
 
The textile project to be set up by Singapore TAL, a subsidiary of Hong Kong-backed TAL Group, is likely to become operational in September 2015, and will employ about 3,000 people. Once operational, the textile plant is expected to produce 12 million pieces per annum.
 
TAL Group entered Vietnam in 2004, when it set up a textile & garment factory in Phuc Khanh Industrial Park in the northern province of Thai Binh at a cost of $40 million. About 3,000 people are currently employed at the textile plant.
 
The textile project in Vinh Phuc province would be the Group’s second project in Vietnam.
 
TAL Group currently has manufacturing facilities at eight places worldwide, which together employ about 25,000 people. The company mainly produces quality men’s and women’s apparel for leading global brands. 
 
In view of the expected benefits that Vietnam is likely to get under the 12-nation Trans-Pacific Partnership (TPP) agreement, several leading textile and clothing firms have announced new investment in the Southeast Asian country this year. (RKS)
 

Fibre2fashion News Desk - India

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