A 274 million USD textile project run by a Taiwanese company got an investment certificate from southern Binh Duong province authorities on June 29.
Polytex Far Eastern Co. Ltd, a member of Taiwan’s Far Eastern Group, will spend 274 million USD on phase one of the project, which will cover 99 hectares at the Bau Bang industrial and urban park.
The factory will have an annual capacity of 21,600 tonnes of polyester fibre, 21,600 tonnes of polyester drawn textured yarn, 127 million square metres of knitting fabric and 96,000 square metres of cotton cloth.
When operational, it is expected to create more than 3,000 jobs for local people.
Polytex Far Eastern Chairman Cheng Chen Yu said the Bau Bang industrial park owns favourable investment climate, adding that the Taiwanese group will pour 700 million – 1 billion USD into phase two of the project.
The Far Eastern Group is a leading corporation in Taiwan with total assets estimated at nearly 80 billion USD.
Chairman of the Binh Duong People’s Committee Tran Van Nam pledged favourable conditions for the project implementation and believed that the project will help ensure material supply for the footwear and apparel sectors once Vietnam joins the Trans-Pacific Partnership agreement.
Binh Duong province, located in the southern key economic region, attracted over 1 billion USD in foreign investments during the first half of this year, exceeding its yearly target.-VNA
Polytex Far Eastern Co. Ltd, a member of Taiwan’s Far Eastern Group, will spend 274 million USD on phase one of the project, which will cover 99 hectares at the Bau Bang industrial and urban park.
The factory will have an annual capacity of 21,600 tonnes of polyester fibre, 21,600 tonnes of polyester drawn textured yarn, 127 million square metres of knitting fabric and 96,000 square metres of cotton cloth.
When operational, it is expected to create more than 3,000 jobs for local people.
Polytex Far Eastern Chairman Cheng Chen Yu said the Bau Bang industrial park owns favourable investment climate, adding that the Taiwanese group will pour 700 million – 1 billion USD into phase two of the project.
The Far Eastern Group is a leading corporation in Taiwan with total assets estimated at nearly 80 billion USD.
Chairman of the Binh Duong People’s Committee Tran Van Nam pledged favourable conditions for the project implementation and believed that the project will help ensure material supply for the footwear and apparel sectors once Vietnam joins the Trans-Pacific Partnership agreement.
Binh Duong province, located in the southern key economic region, attracted over 1 billion USD in foreign investments during the first half of this year, exceeding its yearly target.-VNA
