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Sene Apparel Co Mauritius factory proposal approved

Nov '06
Sene Apparel Co., Ltd. in Shanxi province has obtained the approval from the Ministry of Commerce to set up a garment factory in Mauritius, and they have received the overseas investment certificate for Chinese enterprises.

The main operation of the company offshore will be in garment, clothing fabrics and processing against samples. At present, they are busy with preparatory work.

It is learned that Shanxi has been approved by the Ministry of Commerce to construct Tianli (Mauritius) economic and trade cooperation project.

The cooperation project will be responsible by Shanxi Tianli Company for construction, management and operation and the provincial commercial bureau will take care of supervision and coordination.

Total investment will be 766 million yuan. The construction of two square kilometers area will be completed over five years, including 5 industrial parks of textile and apparel park, electrical mechanical park, light industrial park, high-tech park, food processing park and also a service area for workers.

The Ministry of Commerce will provide 200 million yuan as support subsidies.

To strengthen the confidence of those 'going-out' enterprises, and improve their competitiveness in the international market, the Ministry of Commerce will subsidize 50 percent of the plant leasing to those companies who move into the cooperation parks.

The companies who invest into the project will get bank loans from foreign economic and technical cooperation funds with 5 years 100 percent special interest discount. The project investment for the prophase stage will get 50 percent of subsidies.

Fibre2fashion, News Desk - China

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