Two core affiliates of the Formosa Plastics Group (FPG) on Monday announced plans to invest $287 million in an unspecified number of textile factories in Vietnam.
The pair have formed a joint venture with another affiliate of FPG, Formosa Taffeta Co Ltd, for the huge project which will see them develop an industrial park and power plant on a 300 hectares site.
Work on the new venture is expected to start later this year and once complete, will boast textile plants including a polyester fibre factory with an annual production capacity of 110,000 metric tons.
Date:4/22/2002
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