Tae Chang Enterprise Co Ltd (TCE), one of the biggest textile manufacturers in Korea, started the construction of its denim plant on October 14, at Hoa Xa Industrial Zone, Nam Dinh province, after rigorous preparations for eight months.
The new plant will be managed under the newly established company TEC VINA DENIM JSC. This is a joint venture between Tae Chang Enterprise, which owns 60 percent shares and Vinatex and Thien Nam Investment and Development Joint Stock Company with 40 percent.
With an investment of US $40 million, the denim plant will be equipped with modern technology lines including steps of crisscrossing, dying, gluing, knitting, finishing among others.
The facility is expected to start operations in 2008 and around 600 local labors will be engaged to produce 2,500,000 meters denim per month.
Nam Dinh Government is currently trying to attract investments for textile and apparel sector after VINATEX decided to build a qualified industrial zone in the province for the industry.
Fibre2fashion News Desk - Vietnam
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