Fibre production at Century Synthetic Fibre Corporation. The Corp got license to build a $90m fiber plant in Tay Ninh province. — Photo vinacorp.vn

TAY NINH (Biz Hub) — The Century Synthetic Fibre Corporation has been licensed to build a US$90-million fibre plant in the southern Tay Ninh Province's Trang Bang District, Nhip Cau Dau Tu online newspaper reported.

Covering an area of 100,183sq.m in Thanh Thanh Cong Industrial Zone, the plant will produce 15 million kilograms of fibre and yarn and 12 million kilograms of fabric and twine each year.

It will be jointly built by the Century Synthetic Fibre Corporation and the Uni Industrial and Investment Corporation.

The construction of the three-phase project is scheduled to be completed in the 2015-2016 period. Part of its production line will become operational in 2017, and the whole plant will be officially operational by 2021.

The Century Synthetic Fibre Corporation aims to earn nearly VND1.7 trillion ($78 million) in revenue this year. — VNS