Yarn manufacturer Dai Cuong Group last week inaugurated its VND500 billion (US$23.5 million) fibre plant in Tien Hai District Industrial Zone, Thai Binh Province.
The 15,000sq.m plant, reported to be the most modern facility in Southeast Asia, would be able to produce 8,000-11,000 tonnes of fibre per year with about 500,000 Swiss spindles.
Its products would be aimed at markets in Turkey, Japan, Korea, Brazil, and the US. It would earn an annual revenue of VND750 billion ($35.2 million) and generate nearly 300 jobs after opening.
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