US$24 ml to be invested in weaving, knitting plant
Thien Nam Investment and Development JSC and Sunrise Shangzhou textile company of China have inked a joint venture agreement to establish Thien Nam Sunrise Textile JSC.
The joint venture will build a factory in Bao Minh Industrial Park in northern Nam Dinh province at a cost of US$24 million, with a capacity of 1 million metres of woven fabrics and 300 tonnes of knitting fabrics a month.
Thien Nam is a leading spinning enterprise in Vietnam, owning four spinning factories with a yarn production capacity of 25,000 tonnes per year.
Over 70 percent of its products are exported to overseas markets such as Turkey, Brazil, Indonesia, the Republic of Korea, and China.