Kyungbang Limited, one of Korea’s heading fabric manufacturers, has begun construction work on a new spinning plant in Binh Duong province, Vietnam (near Ho Chi Minh City).
The new factory in a Bau Bang industrial section in Ben Cat district represents an investment of US$ 40m and will have a ability of 6,000 tons per year.
In a initial phase, all products will be for trade to vital markets including a US, Europe, Japan and Korea. In a second phase, a plant will be stretched to supply products for a internal market.
The plant is due to start operation in early 2013, and will occupy around 700 internal workers. It is Kyungbang’s foreign investment; a others are in Indonesia and China.