A production line of Texhong Ngan Ha in Quang Ninh Province. The Texhong Knitting Viet Nam Company Ltd was granted a licence for construction of a US$214 million knitting plant. — Photo baoquangninh.com.vn

The Economic Zone Management Board of northeastern Quang Ninh Province has granted an investment licence to Texhong Knitting Viet Nam Company Ltd to build a knitting plant at Texhong Hai Ha Industrial Park.

Covering an area of nearly 250,000sq.m, the factory would have a total investment of VND4.9 trillion (US$214 million). It is expected to provide 82,500 tonnes of dyed knit fabric a year. In the first phase of the project, the annually designed capacity would be 33,000 tonnes while that in the second phase would be 49,500 tonnes a year.

The project’s first phase is expected to become operational by the end of 2021. The second phase would be completed 20 months later.

A representative from the EZ management board said the Texhong Knitting Viet Nam Company Ltd of Texhong Group is one of the strategic investors. Earlier, the company invested in two knitting projects of Texhong Hai Yen and Texhong Ngan Ha in Quang Ninh with total capacity of 400,000 tonnes a year.

Texhong Group also invested into Texhong Hai Ha IP. The project was granted an investment licence in April 2014 with total investment of $215 million. — VN