VIETNAM: Phong Phu Corp opens $15.7m spinning plant
Nha Trang Textile and Garment (Nhatexco), a subsidy of Vietnam's leading textile manufacturer Phong Phu Corp, has opened a new VND328bn ($15.7m) spinning plant in Khanh Hoa province.
The facility has 40,000 spindles and will produce 4,200 tons of fibre and yarn per year. Products include polyester yarn and thread for both export and local markets as well as Nhatexco's own textile plants.
Using modern production lines imported from Japan, Germany, Switzerland and China, the plant will employ more than 300 local workers.
The new facility means that Nhatexco now has three spinning plants with a total installed capacity of 166,000 spindles.
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