The Management Board of Industrial Parks in northern Nam Dinh province has granted an investment license to Singapore’s Sanbang PTE. Ltd Company to build a fiber plant, the Nam Dinh online newspaper has reported.

The project will cover 103,400 sq m at the Rang Dong Garment and Textile Industrial Park and have total investment of $28.7 million.

Construction is scheduled to begin in the first quarter of 2024 and be completed in the third quarter of 2025, with operations to get underway from the fourth quarter of 2025.

The plant has a designed capacity of producing 15,000 tons of towels, 14 million meters of woven fabric, and 15,000 tons of DTY yarn each year.