Singaporean textile company plans $590 mn project in Vietnam

02 Dec '24

2 min read

Singaporean textile company plans $590 mn project in Vietnam

Pic: Adobe Stock

Insights

Mega Textile Singapore Limited, fully owned by Best Pacific, will invest $590 million in a project at Tho Loc Industrial Park, Vietnam, spanning over 51 hectares.
The three-phase project aims to produce textiles, knitwear, yarns, belts, and garments, creating 15,000 jobs.
Phase 1 starts in Q2 2028, with full operations by 2034, boosting Vietnam's textile sector.

Mega Textile Singapore Limited will establish a $590 million project spanning 51 hectares in the Tho Loc Industrial Park, located in Southeast Nghe in Vietnam. The Singapore-based company will set up Mega Textile Vietnam Co Ltd to execute the project. It is expected to generate over 15,000 jobs.

The investment procedures are expected to be completed by the second quarter of 2025, and there will be three stages to the construction of this project. The factory's first phase is anticipated to begin operations in the second quarter of 2028, followed by the second quarter of 2030 for the second phase and the second quarter of 2034 for the third phase, as per Vietnamese media reports.

The project aims to create a variety of textiles, such as clothes, belts, knitwear, coloured yarns, fabrics, and cut semi-finished goods. About 67,200 tonnes of fabric, 10,300 tonnes of knitwear, 7,200 tonnes of coloured yarn, 100 million belts, 130 million garments, and 2.2 million cut semi-finished products are estimated to be produced annually.

Mega Textile Singapore Limited is fully owned by Best Pacific, a leading name in the manufacturing and trading of textiles and belts, supplying top global sportswear and lingerie brands. Mega Textile Vietnam is among the leading projects by the group.

Fibre2Fashion News Desk (SG)

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