Texhong to begin Quang Ninh projects next month

Wednesday, Sep 24, 2014 17:42

A worker checks yarn produced at a Texhong production facility in Viet Nam. The Chinese company will be implementing two projects in Quang Ninh Province late next month. — Photo tgvn.com.vn

QUANG NINH (Biz Hub) ─ Chinese textile company Texhong will begin implementing two projects worth US$515 million in this northern province on October 30.

Nguyen Van Thanh, the provincial People's Committee vice chairman, made the announcement at a meeting on Wednesday.

According to Thanh, the company will develop the infrastructure of the Texhong Hai Ha Industrial Zone in Hai Ha District. It obtained an investment license for the park in late April and will spend VND4.52 trillion, or US$215 million, to implement the project's first phase in a 660-hectare site in the industrial zone.

Texhong will also build a chain of industrial facilities for garment and textile manufacturing. It obtained an investment license for the chain early this month and will spend $300 million to implement the project on a 62.5-hectare site in the industrial zone.

The company plans to put the chain into operation in early 2018 and generate jobs for 5,000 to 6,000 people, with an average income of VND4 million to VND5 million ($190 to $238) per employee.

Thanh said provincial authorities were finalising land rent and site clearance procedures and completing road, electricity and water systems to enable the company to carry out its projects on schedule. — VNS

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