Vinatex to invest $1bn in textile projects during 2006-2010
05 May '06
1 min read
Vietnam Textile and Garment Group (Vinatex) has formulated plans to invest VND16.1 trillion (US $1 billion) in 24 major expansion projects during 2006-2010.
Investments are envisaged for projects focusing on cotton growing areas, textiles, production and distribution systems, fashion design and infrastructure, according to the State owned enterprise.
Southern central region will have a 1,000 hactare cotton farm that will produce 140,000 tons of fibre per year.
Construction of new factories and relocation of existing ones to industrial zones in northern and southern deltas and central coastal regions is also on the anvil.
Vinatex expects expansion plans to manufacture over 400 million square metres of fabric, including 270 million square metres for exports, by 2010.
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