China Xielong Group Plans to Establish a Textile Factory in Nam Dinh Province, Vietnam

Consumer Staples Author: EqualOcean News, ChenZhiheng、JiangShan Apr 19, 2024 04:12 PM (GMT+8)

Per Vietnamese media sources, the Nam Dinh Industrial Park Management Committee of Vietnam reportedly granted an investment registration certificate for the Xie Long Vietnam Garment Factory project on April 17. As per the certificate, Mr. Chen Ziliang, the Chinese chairman of Xielong High-tech Chemical Fiber Co., Ltd., serves as the legal representative of the Xielong Vietnam Project.

The total investment for the endeavor amounts to VND994.4 billion (approximately USD 40 million), with Fujian Zhangping Xielong High-tech Chemical Fiber Co., Ltd. contributing 30% of the total investment, equivalent to VND29.532 billion (approximately USD 1.2 million).

The project is slated for implementation in two phases: the inaugural phase aims to initiate legal formalities in the fourth quarter of 2024, with trial production set to conclude and commence operation in the second quarter of 2026. Subsequently, the second phase is scheduled to undergo legal procedures in the second quarter of 2027, with trial production expected to conclude in the second quarter of 2028, followed by operationalization in the third quarter.

Upon project completion, the anticipated annual production capacity is projected to reach 8.872 million kilograms of mesh fabrics and 31.5 million pairs of shoe-shaped mesh fabrics. As indicated in the investment registration certificate, the operational tenure spans approximately 41 years, commencing from the date of issuance until June 29, 2065. Notably, Fujian Zhangping Xielong High-tech Chemical Fiber Co., Ltd., a subsidiary of China Xielong Group, is identified as the project investor by the Nam Dinh Provincial Industrial Park Management Committee. The Xielong Group has cultivated robust collaborative ties with prominent international sports fashion brands such as Germany's Puma, Japan's ASICS, and China's Xtep, demonstrating sustained expansion efforts.