Starting construction a 40,000 spindle spinning mill, Nha Trang Textile Joint Stock Company (Nhatrangtex) confirms its strategic position in the country’s textile and garment industry...
Starting construction a 40,000 spindle spinning mill, Nha Trang Textile Joint Stock Company (Nhatrangtex) confirms its strategic position in the country’s textile and garment industry.
On development demand of textile and garment industry in the country and in the world, Nhatrangtex has started construction of a 40,000 spindle spinning mill. This significant project is expected to faciliate the company to expand market, raise export and partly aim to Phong Phu Corporation’s strategic target to develop the Central Textile Garment Production Group.
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| Fiber production plays a strategic role in textile and garment industry. |
“This project is a starting point for Phong Phu Corporation’s investment in textile and garment in the Central. Also, it will contribute much to the development of textile and garment industry in Khanh Hoa Province”, said Nhatrangtex General Director Le Ngoc Hoan.
Expenditure for the new spinning mill is estimated to be VND328 million, 70% of which is used to equip machines to produce fiber for export and high-class domestic fabric. The 14,800 sq.m. mill will own modern production lines with an annual capacity of 4,200 tons, imported Japan, Germany, Spain and China.
The mill will raise Nhatrangtex’s number of spindles to 166,000, its annual production to 17,200 tons of fiber and its turnover by more than VND1,000 billion per year. Additionally, it will create jobs for about 400 laborers and put up its delivery to Khanh Hoa Province’s State budget by VND20 billion a year.
In the first two months of 2011, despite the global economic unstableness, export turnover of Vietnam textile garment industry hit USD2.1 billion, a 54% increase year-on-year. This is an opportunity for textile garment industry of the country as well as Nhatrangtex to enhance trademark. The new spinning mill along with achievement of Nhatrangtex will confirm its strategic position in textile and garment industry of the province as well as the country.
T.T
