In a meeting with the People’s Committee of northern Ha Nam Province on May 5, a Taiwanese firm announced that the company will bring about its plan to build a US$150 million high-tech textile plant in an industrial park in the region.

Taiwanese group Yulon will invest $150 million to build a 24 hectare high-tech textile plant in Dong Van II Industrial Park, expecting to initially employ around 500 workers.

As planned, construction will start in August of this year and the plant will begin operation in August of next year. Chi Wei Kung, general director of Tai Yuen, a firm belonging to Yulon group, said that the company decided to invest in Ha Nam after researching the investment environment of several provinces and cities in Vietnam. When officially operational, the plant will consume around 1,500 cubic meters of water per day in the first phase and 2,500 cubic meters per day in the second phase, Chi said.

Wastewater will be treated in line with local rules and regulations, the general director added.

Yulon, which mainly produces automobiles and textile products, is among Taiwan’s biggest multifaceted manufacturers.