Japan’s Toray operates $203 mln fiber plant in northern Vietnam
Top Textiles Co., a subsidiary of Japanese multinational corporation Toray Industries, Inc., inaugurated the first phase of a $203-million textile plant in Nam Dinh province last Saturday.
The plant covers 31.2 hectares in the Rang Dong Textile Garment Industrial Park in Nghia Hung district.
A view of the inauguration ceremony of the Top Textiles plant in Nam Dinh province, northern Vietnam, July 13, 2024. Photo courtesy of Nam Dinh newspaper.
Having its construction started in July 2022, the plant has an annual capacity of 60 million meters of fabric or 96 million square meters. The capacity is four times that of existing plants in the province, which used to be the biggest textile hub in Vietnam.
The second phase is scheduled for competition next year. Once completed, the plant will double its capacity to 120 million meters of fabric per year.
Addressing the inauguration ceremony, Tran Anh Dung, standing Vice Chairman of Nam Dinh, said the plant will create 1,800 jobs for locals and help lift the province’s industrial production.
The operation of the plant demonstrates the Rang Dong Textile Garment Industrial Park’s attractiveness to secondary investors, gradually making Nam Dinh a national textile hub.
The park is part of the would-be Ninh Co Economic Zone project, pending prime ministerial approval. Once approved, investors will be granted more incentives, Dung noted.
Speaking at the ceremony, Kyuichi Fukumoto, chairman of Top Textiles Co., noted that the new plant can produce 45 tons of products a day. It will guarantee the compliance of Vietnam’s highest environmental standards for waste water and exhaust, he added.
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