Vietnam : New Projects
Up to 700 jobs are set to be created at three
huge new dyeing, spinning and weaving mills in Vietnam's Hung Yen province. Work on the $30 million project got underway and
is expected to be completed by the second and third quarters of 2003.
Once complete, the dyeing mill will have an
annual capacity of 20 million metres of cloth; the spinning mill 9,000
tonnes of fibre; and the weaving mill 12 million metres of denim.
Vietnam garment industry is aiming for textile exports of $4 billion by 2005. These new mills and others will help meet the current shortfall in the demand and supply of cloth.
On the other hand, officials
from the Vietnam National Garment and Textile Corporation (Vinatex) unveiled
ambitious plans for a new $191 million polyester fibre plant.
The huge project - in conjunction with the state-run
Vietnam Oil and Gas Corporation (PetroVietnam) - will see a factory with an
annual production capacity of 130,000 tons built to provide for the nationís textile industry.
Vietnam's garment and textile industry still imports all its foreign polyester fibre but this new project - which still needs government approval to proceed - will see that figure slashed.