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

Spread over 20ha in Que Son district, the 1.14 trillion VND (53.5 million USD) project will include a fibre factory that will produce 4,600 tonnes of products per year, a textile and dyeing factory with a 5,000 – tonne annual capacity, and Huong An garment factory with 20 knitwear production lines, which will produce 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.

After it becomes operational, the complex will supply materials to cities and provinces nationwide, including Da Nang, Phu Yen and Ha Tinh. It will also create diversified and high-quality textile and garment products to meet the domestic and export market demands.

The project's first phase is expected to earn nearly 1.7 trillion VND (80 million USD) in revenue per year, contributing about 30 billion VND (1.4 million USD) to 35 billion VND (1.64 million USD) to the local budget, and generating stable jobs for about 2,000 workers with an average income of 4 million VND (188 USD) to 5 million VND (235 USD) per head per month.

The group plans to spend 9.4 trillion VND (448 million USD) on textile and garment, weaving and dyeing and infrastructure projects in the 2015-17 period. 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.

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