Vietnam's leading yarn manufacturer, Thien Nam Spinning Joint Stock Company, has opened a new $18m spinning plant, which will produce 100% cotton yarn for both export and local markets.

The facility, called Duy Nam Spinning, is located in the Binh An textile and garment industrial park in Binh Duong province. It is equipped with 40,000 spindles and has an annual production capacity of 6,600 tons of yarn, of which 80% will be exported.

Tran Dang Truong, president and CEO of the Thien Nam Spinning JSC, said the opening of the new plant marks the development of a group specialising in spinning, knitting and dyeing.

This is Thien Nam Spinning's forth spinning plant, and adds to its total annual production of 25,000 tons of yarn.