Texhong Textile Group of China started the construction of its fibre plant in the Hai Yen Industrial Zone in Mong Cai city (Quang Ninh province) on July 10.
The project, the first and the biggest FDI (foreign direct investment) project so far in Quang Ninh province, is being carried out in an area of over 40 ha, with the total investment capital of 300 million USD.
Its annual production capacity is expected to reach around 140,000 tonnes, with 92,000 tonnes per year for phase 1 and 2 and 46,000 tonnes per years in phase 3.
The plant is scheduled to officially come into operation in the third quarter of 2013.
The investor said they will create up to 7,000 jobs for local people after completion.-VNA