09:19 | 13/10/2015 Investment
ILSHIN Vietnam Limited Company, under the Republic of Korea (RoK)’s ILSHIN Company, held a ceremony to inaugurate its fiber weaving plant at the Phuoc Dong-Boi Loi industrial park in the Central Highlands province of Tay Ninh on October 8.
Tay Ninh provincial People’s Committee Nguyen Thi Thu Thuy and delegates visiting the production lines of the plant (Credit: VNA)
Covering an area of 222,000 square metres, the project has a total investment of US$177 million.
With a total capacity of 15,800 tonnes per year, the plant will produce fibers, finished fibers and knitted fabrics. The plant’s products will be exported to the RoK, United States, Japan and China.
The operation of the ILSHIN Vietnam fiber weaving plant will create jobs for more than 500 local people.
Addressing the inauguration ceremony, the Tay Ninh provincial People’s Committee Nguyen Thi Thu Thuy expressed her hope that foreign companies would support the province in attracting more investors to the industrial parks.
She also noted the province is committed to continuing to create more favourable conditions for both domestic and foreign enterprises to invest and explore all potentials and advantages of its localities, as well as develop production towards industrialisation and modernisation.
The Phuoc Dong-Boi Loi industrial park has attracted 21 investment projects, including 19 from foreign companies and two from domestic enterprises, with a total registered capital of US$1.877 billion as of the end of September.
The projects that were put into operation in the park have created stable jobs for nearly 17,500 local people./.