Vietnam’s Nam Dinh okays $68mn Chinese textile project

From Fibre 2 Fashion

The People’s Committee of Vietnam’s Nam Dinh province has issued an investment license to China-based Jiangsu Julun Textiles Group Co. Ltd. for constructing a US$ 68 million factory, Vietnam Plus reported.

The Jiangsu Julun Textiles Group Co, Ltd of China will build a factory worth US$68 million in the Bao Minh industrial park in Vu Ban District. Photo from Viet Nam News.

The new textile plant would come up over an area of 80,000 sq m in the Vu Ban district’s Bao Minh industrial park. The textile mill would have an annual capacity to produce 9,816 tons of yarn, in addition to weave 21.6 million metres and dye 24 million metres of cloth.

The investment license provides land lease contract for 46 years to the Chinese firm, which expects to complete the construction of the new textile plant by June 2016.

Besides Jiangsu Julun, another investor from Hong Kong has shown interest to set up a textile and garment industrial park in Nghia Hung district of Nam Dinh, according to the province’s managing board of industrial zones. However, the project is yet to be submitted to the Government for approval.

Read the full story from Fibre 2 Fashion.

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