Chinese-Funded Large-Scale Dyeing and Printing Project Officially Starts Construction in Vietnam! $940 Million Involving Pu, Pet, Pom...

According to a statement from the leaders of the Nghe An Southeast Economic Zone Management Board to the media on the morning of January 24, the MEGA TEXTILE – VIETNAM project, invested by Best Pacific Group, will officially commence construction on January 24.

Located in the Thọ Lộc Industrial Park, Nghệ An province, this project, after the latest investment adjustment, covers a total area of over 67.5 hectares with a total investment of $940 million. It is currently the largest investment project in its industry in Nghệ An province and has the highest investment intensity per unit of land output.

Project Positioning: Export-oriented large-scale textile manufacturing base

The project will establish an Export Processing Enterprise (EPE), with its main products and services including:

Knitted and Woven Fabrics

Various elastic tapes and webbing products

Dyed yarn

Semi-finished product trimming

Ready-made garments and apparel products

Factory, warehouse, and office facility leasing services within the park.

Upon completion, the project will provide supply chain support for several world-renowned brands, including international lingerie and sportswear labels such as Victoria’s Secret, Uniqlo, FILA, and Triumph.

Development Plan: A Large-scale Industrial Complex with Phased Development

The project will be advanced in multiple stages. Individual buildings will be a maximum of 5 stories high, with complete supporting facilities.

The first phase of construction includes:

Factory buildings, warehouses, laboratories, office buildings, canteens, multi-functional buildings, sewage treatment stations, and other supporting technical infrastructure, internal roads and landscaping projects. Construction area of approximately 16.5 hectares.

Phase two construction includes:

Factory buildings, warehouses, laboratories, office buildings, canteens, sewage treatment stations, internal transportation systems, and greening projects. Construction area of approximately 17.4 hectares.

The third phase of construction is similar to the previous phases, including a complete production and logistics support system. The construction area is approximately 17.3 hectares.

Latest news indicates that after adjustments, the project will be implemented in four phases and expanded to a scale of 67.5 hectares.

Investment Scale Adjustment: Upgraded from $590 million to $940 million

The project was originally approved for investment proposals and investor qualifications at the end of November 2024, and was planned as follows:

Land area: Approximately 51.18 hectares

Total investment: approximately $590 million

With approximately $295 million in equity (50%).

The remainder is financing capital

The project operation period ends on February 8, 2073.

However, the project's investment proposition has now been adjusted, with core changes including:

Estimated workforce: approximately 15,000 people

Phase one is scheduled to be operational in the second quarter of 2028.

Upon completion, the project will become the leading textile manufacturing complex in Central Vietnam, with a significant driving effect on local industrial employment and industrial chain upgrading.

The investor of the project is Mega Textile Singapore Private Limited, a company registered in Singapore (incorporated on February 18, 2022) and a wholly-owned subsidiary of Best Pacific International Holdings Limited.

Best Pacific is a Hong Kong-listed company and a world-renowned manufacturer of functional fabrics and elastic webbings, providing core materials for leading international sports and lingerie brands over the long term.

In Vietnam, Best Pacific established its first factory in Hai Duong province as early as 2016, and has since created over 1,600 jobs. This Nghe An project represents the Group's largest investment in Vietnam. The commencement of this project signifies that:

Vietnam's attractiveness in the high-value-added textile materials sector continues to rise, covering materials such as PU, PET, HDPE/PP, and POM/PBT.

International brand supply chains are accelerating their shift to Vietnam.

Y An Province is upgrading from a traditional industrial zone to a large export manufacturing hub.

MEGA TEXTILE – VIETNAM project is expected to become a new core growth pole for the textile industry in Central Vietnam.