Business

Vinatex to build factory complex in Quang Nam

The Vietnam National Textile and Garment Group (Vinatex) will commence the construction of a factory complex in the central Quang Nam province on March 25, reports baodautu.vn.
The Vietnam National Textile and Garment Group (Vinatex) will commencethe construction of a factory complex in the central Quang Nam provinceon March 25, reports baodautu.vn.

Spread over 20ha in Que Sondistrict, the 1.14 trillion VND (53.5 million USD) project will include afibre factory that will produce 4,600 tonnes of products per year, atextile and dyeing factory with a 5,000 – tonne annual capacity, andHuong An garment factory with 20 knitwear production lines, which willproduce 20 to 25 million products per year.

Vinatex will also build a factory that will treat 5,000cu.m of wastewater per day to serve the production needs at the complex.

Afterit becomes operational, the complex will supply materials to cities andprovinces nationwide, including Da Nang, Phu Yen and Ha Tinh. It willalso create diversified and high-quality textile and garment products tomeet the domestic and export market demands.

The project's firstphase is expected to earn nearly 1.7 trillion VND (80 million USD) inrevenue per year, contributing about 30 billion VND (1.4 million USD) to35 billion VND (1.64 million USD) to the local budget, and generatingstable jobs for about 2,000 workers with an average income of 4 millionVND (188 USD) to 5 million VND (235 USD) per head per month.

Thegroup plans to spend 9.4 trillion VND (448 million USD) on textile andgarment, weaving and dyeing and infrastructure projects in the 2015-17period. About 60 percent of the capital will be poured into weaving,dyeing and infrastructure projects to lure other businesses.

In 2015, nearly 2.4 trillion VND (113.8 million USD) will be disbursed for the above-mentioned projects.

Vinatexhas equitised its operations from January 1 this year. It has set atarget for its parent company to earn 900 billion VND (42.25 millionUSD) in revenue, and an after-tax profit of 288.4 billion VND (135.39million USD) in 2015.-VNA
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