Kyung Bang Vietnam Co. Ltd, wholly invested by the Republic of Korea’s Kyung Bang Group, broke ground on a large-scale fibre factory in the southern province of Binh Duong on October 31.
In the first phase, the project, located in Bau Bang industrial zone, Ben Cat district, has investment capital of US$40 million. It covers an area of 160,000sq.m and has a capacity of 6,000 tonnes of fibre per year.
The factory is scheduled to be put into operation in 2013.
In the past ten months, Binh Duong’s export turnover reached nearly US$1.2 billion, up 14 percent compared to the same period last year.