Thien Nam Investment and Development JSC and Sunrise Shangzhou textile company of China have inked a joint venture agreement signing ceremony to establish Thien Nam Sunrise Textile JSC.

The joint venture will build a factory in Bao Minh Industrial Park in northern Nam Dinh province at a cost of 24 million USD, with a production capacity of 1 million metres of woven fabrics and 300 tonnes of knitting fabrics a month.

Thien Nam is a leading spinning enterprise in Vietnam , owning four spinning factories with a yarn production capacity of 25,000 tonnes per year.

Over 70 percent of products are exported to overseas markets such as Turkey, Brazil, indonesia, the Republic of Korea, and China.-VNA