Vietnam-based Kyung Bang Co Ltd, a subsidiary of Kyung Bang Group of the Republic of Korea (RoK), on Oct. 31 hosted a ground-breaking ceremony for a large-scale fibre production plant at Bau Bang Industrial Park in the southern province of Binh Duong.

With a total investment of 40 million USD and covering an area of 160,000 sq m, the first phase of the plant is expected to be capable of manufacturing 6,000 tonnes of products per year.

The plant is scheduled to be completed and put into operation by 2013.

Speaking at the ceremony, Vice Chairman of Binh Duong provincial People’s Committee Tran Thanh Liem said the facility will contribute to meeting demand from the textile industry, a key export sector of the province.

Export turnover of the province’s garment and textile commodities reached approximately 1.2 billion USD in the first 10 months of this year, up almost 14 percent over the same period last year./.