16:12 | 26/08/2015 Economy
Vinatex will begin construction of a VND150 billion (US$6.7 million) garment factory in the central province of Quang Binh on August 25.
Graphic image of the garment factory in Quang Binh
The 6ha plant in the Cam Lien Industrial Zone in Le Thuy District will have a capacity of eight million pieces a year, which it will export to key markets like the US, the EU, and Japan.
The first phase of the plant will go on stream next March.
The project is part of plans by the Vietnam National Textile Garment Group – as Vinatex is formally known - to increase output to tap export opportunities expected to arise from various trade agreements the country is set to sign.
Last year Vinatex said it would invest VND4.8 trillion ($213.8 million) in three projects in Quang Binh -- a fibre plant and a garment factory in Ba Don town and a garment plant in Quang Ninh District.
It also signed a memorandum of co-operation with the province for four other tasks -- research and development of cotton for its spinning mills, investment research for the construction of a fibre plant in Quang Ninh District, investment research for a fibre weaving and dyeing complex in Bac Quan Hau Industrial Park, and a feasibility study for building garment factories for exports in Le Thuy and Quang Trach Districts.
In March Vinatex began construction of a fibre-weaving-dying complex in the central province of Quang Nam at a cost of VND1.2 trillion ($53.4 million)./.