Chairman of Tay Ninh People's Committee Nguyen Thi Thu Thuy visits the textile fibers plant of ILSHIN VIET NAM. — Photo VNA

TAY NINH (Biz Hub) — ILSHIN Vietnam Limited Company inaugurated a US$177 million textile fiber plant in the Phuong Dong – Boi Loi Industrial Park in the southern province of Tay Ninh on Thursday.

The plant covers an area of 220,000 square metres and can produce 15,800 tonnes of fiber per year.

Products from the plant will be exported to South Korea, the United States and Japan. The plant is expected to create 500 jobs for local residents.

Speaking at the inauguration ceremony, chairman of Tay Ninh People's Committee Nguyen Thi Thu Thuy said she wanted foreign investors to continue their support and attract more investment to industrial parks in the province.

She also pledged to create the best conditions for Vietnamese and foreign firms to invest in Tay Ninh Province.

ILSHIN Vietnam is a subsidiary of ILSHIN, a fusible interlinings & linings producer based in South Korea. The company was established in January 2014 and engages in the production and sale of cotton yarn.

The Phuong Dong – Boi Loi Industrial Park has attracted 21 projects, including 19 foreign and two domestic projects, with total registered capital of $1.87 billion and VND318 billion ($14.3 million). — VNS