The plant has an investment of VND150 billion (US$6.9 million), covering an area of over 4 hectares.
The plant will have an annual production of more than 5 million garment products and earn an estimated US$20-30 million in export revenue per year.
It is expected to begin operations in October 2015, generating jobs for nearly 2,000 local people.
The project aims to improve Vinatex's chain of yarn-weaving and dyeing to help it be active in almost all stages of the garment supply chain, according to Vinatex Deputy General Director Pham Phu Cuong. It is also a key project of the garment group after the conversion to a joint stock company, he added.
The new plant is hoped to enhance competitiveness and production capacity as well as increase profits for Vinatex, creating positive impacts on the socio-economic development of Bac Lieu.
