China’s textile project in Vietnam gets shelved

Source: https://vn.apparelresources.com

The construction of a Chinese textile unit has just got shelved in Vietnam!

The local authorities in Quang Ninh Province has put the construction of Texhong Co., Ltd., on hold after it failed to finalise its legal procedures.

The fabric factory had received the investment certificate in November 2018, following which it immediately started construction early this year though lot of administrative formalities were yet to be done.

This was confirmed in a report sent to Ministry of Natural Resources and Environment by the Quang Ninh Provincial People’s Committee. The Committee recently met and asked the Chinese factory to immediately stop the construction work until all administrative and legal processes are completed.

The textile factory, built at a cost of US $ 260 million, is a part of a series of coastal projects by Texhong Textile Group in Quang Ninh’s Mong Cai City and Hai Ha District.

Texhong Textile Group Limited, one of the largest core cotton textile suppliers in the world, is principally engaged in the production and distribution of quality yarns, grey fabrics and garment fabrics.



Categories: Asia, Business, China, Textile, USA, Vietnam

Tags: , , , ,

%d bloggers like this: