Mekong Delta mill expected to earn $38 million in revenues each year.
The Vietnam National Textile and Garment Group (Vinatex) began construction of the An Bien textile mill in the Mekong Delta’s Kien Giang province on March 14.
The mill has estimated investment capital of VND210 billion ($9.42 million), with 70 per cent being in commercial loans.
It will cover 3.7 ha and employ some 1,500 workers, turning out 12 million products annually for export and domestic consumption.
Once operational, in the first quarter of 2017, the mill will bring in revenues of about VND850 billion ($38.13 million) annually and contribute some VND5 billion ($224,300) to the State budget. Average salaries are expected to be between VND4 million ($180) and VND5 million ($225).
The An Bien textile mill is one of 300 mills Vinatex plans to build in the south of Vietnam from 2015 to 2017.
Mr. Pham Phu Cuong, Vinatex Deputy General Director, said the mill’s construction aims to utilize the opportunities that will come from the TPP.