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ITG-Phong Phu JV comes into operation
13 Dec '08
1 min read
Recently Hoang Trung Hai, Deputy Prime Minister of Vietnam inaugurated the new garment complex at the Hoa Khanh Industrial zone, central province of Da Nang.
The project that includes knitting, dying, washing and finishing, is a joint venture between US-based ITG Group and Vietnam's Phong Phu Corp, has started operation.
Built on an area covering 2 hectares, the total investment poured into this project amounts to US $80 million of which ITG's investment ratio is 60 percent.
In its first stage, the garment complex will be able to produce 30 million meters cloth, 8 million apparels with 90 percent of the production for export purposes.
The complex is expected to provide employment to nearly 2,000 local people.
The project that includes knitting, dying, washing and finishing, is a joint venture between US-based ITG Group and Vietnam's Phong Phu Corp, has started operation.
Built on an area covering 2 hectares, the total investment poured into this project amounts to US $80 million of which ITG's investment ratio is 60 percent.
In its first stage, the garment complex will be able to produce 30 million meters cloth, 8 million apparels with 90 percent of the production for export purposes.
The complex is expected to provide employment to nearly 2,000 local people.
Fibre2fashion News Desk - Vietnam
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