Texhong Textile Group, a China-based company that is among the leading suppliers of cotton fabrics in the world, has invested US$ 300 million to set up a new yarn plant in Vietnamese northern province of Quang Ninh.
To be set up on 30 hectares of land in the Hai Yen Industrial Zone, the new plant will have a capacity of 200,000 cotton spindles and will produce cotton core-spun yarns.
The project is being given a key priority by Quang Ninh authorities who have assured creation of favourable conditions for investors.
Founded in 1997 by Mr. Hong Tianzhu, Texhong Textile Group is mainly engaged in the manufacturing and distribution of quality yarn, grey fabrics and garment fabrics.
Currently, the Group has more than 1,600 customers in China and abroad, and has a sales network spread across South Korea, Bangladesh and Europe, besides China and Hong Kong.
Texhong Group at present operates 11 manufacturing plants within the Yangtze River Delta region of China.
Fibre2fashion News Desk - India