South Korea's Panko group has started construction of a garment and textile factory in Vietnam's Tam Thang industrial zone in Tam Ky city, the central province of Quang Nam, according to reports in the Vietnamese media.
The factory is being built on an area of over 30 hectares with a total investment capital of $70 million and it is expected to employ about 15,000 workers.
The factory will specialise in producing clothing and textile products, dyeing, garment and textile materials. Each year, it will produce 24,000 tonnes of textile products, 24,000 tonnes of dyeing products, 75,000 tonnes of garment products and 30 million tonnes of material products.
On the same day, another Korean firm, Duck San Enterprise started work of a $10-million textile plant, covering 6.6 hectares. It has a capacity of 19,200 tonnes of fibre, cloth, textile and dyeing products each year.
Head of the management board of Chu Lai Open Economic Zone Do Xuan Dien said the two textile and garment-dyeing projects would help to attract investment from domestic and foreign firms to the Tam Thang industrial zone in the future.
"We have also invited investment in the garment and textile industry in the industrial zone as the province has assigned it as a major textile zone. The province also offers a skilled and competitive labour force," Dien said. (SH)
Fibre2Fashion News Desk – India