The textile and garment complex project will be spread over 20 hectares in Que Son district and will be built at a cost of 1.14 trillion dong (approximately US$ 53.5 million).
The project will include a fibre factory with a capacity to produce 4,600 tons of products annually, a textile and dyeing factory with annual capacity of 5,000 tons and a garment factory with 20 knitwear production lines with capacity to manufacture 20 to 25 million pieces per year.
An effluent treatment plant to treat 5,000 cubic metres of wastewater per day will also be built by Vinatex.
Once the complex becomes operational, it will supply materials to domestic garment manufacturing companies, including the ones in Phu Yen, Ha Tinh and Da Nang.
In the first phase, the project is expected to employ about 2,000 people with an average monthly salary of 4 to 5 million dong per head.
In 2015-17 period, Vinatex group plans to spend 9.4 trillion dong on textile, garment, and infrastructure projects. About 60 per cent of this amount would be invested in weaving, dyeing and infrastructure projects.
For this year, Vinatex has set a target to earn 900 billion dong in revenue, and an after-tax profit of 288.4 billion dong.