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QUANG NINH (Biz Hub)— The second phase of a US$300 million fibre factory kicked off in Hai Yen Industrial Park, Mong Cai city, in the northeastern province of Quang Ninh on Wednesday, following the completion of the first phase.

The project, invested by Texhong Ngan Long under the Texhong Group, is the largest FDI project so far in the province.

The industrial fibre factory will consist of six workshops with a total capacity of nearly 140,000 tonnes per year. It will be built in three phases with the second phase expected to be completed in 2015 and the third phase in 2017.

Two workshops and support facilities have been built during the first phase, and two more will be constructed in the second phase to produce natural cotton and man-made fibre as well as cloth.

The Texhong fibre factory was the first FDI project licensed after Quang Ninh held an investment promotion conference in early 2012. — VNS