MANAGUA: An agreement has been made with the Government of Nicaragua, to build 28 million yard capacity denim plant, by the Cone Denim business of International Textile Group (ITG), Wilbur L. Ross, Chairman of the Board of ITG said here on April 27.
The chairman further said that the plant is expected to employ around 750 people and also clarified that by building a world-class Cone Denim plant in the region, the group is fulfilling a commitment to all the countries and all our customers throughout Central America, to ensure that this region remains an attractive and successful sourcing option for our denim jeans customers for years to come.
The proposed Cone plant will be the largest building ever constructed in the country and will represent an investment equal to 2 per cent of the countrys total annual GDP, which is open for CAFTA business, Alejandro Arguello, Minister of Development, Industry and Trade commented.
