VIETNAM: Crystal and Pacific Textile to build $180m plant
Local government officials in Vietnam’s Hai Duong province have licensed a joint venture between Crystal Corporation and Pacific Textile Holding Limited, two of Hong Kong’s leading textile and garment manufacturers, to set up a US$180m textile and garment facility.
Located on a 70 hectare plot in Nguyen Giap industrial zone, in the north of the country, the complex includes an integrated manufacturing process from knitting to dyeing, cutting, sewing and finishing products.
Once completed it will be the largest vertically integrated project of its kind in the country.
Of the US$180m investment capital, the textile works will account for US$120m, focusing on producing fabrics, while the remaining US$60m will go on the garment processes.
The complex is due to open in 2013, will employ around 10,000 local workers and generate an annual turnover of US$590m.
Both Crystal and Pacific Textile currently operate their own production bases in Vietnam and supply products for international brands and retailers including Uniqlo, Wal-Mart, JCPenney, Gap, Mango and H&M.
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