TAL gets licensed for $50m textile plant in Ba Thien IZ
Located on an 8-hectare site in the province’s Ba Thien 2 Industrial Park (IP), the plant is expected to enter operation in September next year and churn out 12 million products per year and create 3,000 jobs.
According to a Ba Thien 2 IP representative, this is the seventh licensed tenants in the 308ha park. He also said that TAL was looking to set up another $200 million facility in the province.
Developed by Vina CKP, a member of asset management group VinaCapital, more than three quarters of the available land of the park’s first phase 40ha have been leased out. Vina CKP is now developing infrastructure facilities for the second phase with the total land area of 100ha, and it is expected to be complete by the end of the first quarter of 2015.
This would be TAL Group’s second project in Vietnam after it entered Vietnam in 2004 to set up the $40 million textile-garment factory in the Phuc Khanh Industrial Park in the northern province of Thai Binh, where more than 3,000 workers are working.
TAL Group, a private, family-owned firm, is one of the world’s largest clothing manufacturers currently has 25,000 workers at eight factories worldwide. It specialises in the manufacture of quality men’s and women’s garments for leading global brands.
Vietnam is on the radar screen of foreign textile and garment investors wanting to exploit Vietnam’s potential membership in the Trans-Pacific Partnership (TPP). Since last year, more foreign fibre, yarn and textile producers have visited Vietnam to seek opportunities for investment in textiles, dyeing and material production, according to the state-run Vietnam National Textile and Garment Group’s Market Research and Promotion Department.
For example, HanesBrands Inc., an American clothing brand, has decided to outsource its production facilities to Vietnam and close its underwear factory in Costa Rica in a bid to maximise profits, according to a Costa Rican report.
“We are making significant progress in expanding our supply chain production capability in Asia and consolidating into fewer, larger facilities located in lower-cost countries around the world,” said HanesBrands CEO Richard A. Noll on the company’s website.
The company currently has two plants in the northern province of Hung Yen and the central province of Thua Thien-Hue.
