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[THE INVESTOR] South Korean clothing maker Panko will establish a large fabric industry complex in Myanmar, local and Myanmar media reported Aug. 26.
According to reports, Panko will collaborate with Myanmar Olympus Asia Development Group in establishing a 202-hectare fabric industry complex. The project is estimated to cost between US$30 million and US$50 million, with the two companies being equal partners, reports said.
The companies are reported to be searching for a suitable site, and plan to begin the project next year with the aim of completing it within three years.
The companies also said that the project will create 60,000 new jobs, and that the fabrics produced at the complex will be exported to China, Europe and the US.
By Choi He-suk (cheesuk@heraldcorp.com)
According to reports, Panko will collaborate with Myanmar Olympus Asia Development Group in establishing a 202-hectare fabric industry complex. The project is estimated to cost between US$30 million and US$50 million, with the two companies being equal partners, reports said.
The companies are reported to be searching for a suitable site, and plan to begin the project next year with the aim of completing it within three years.
The companies also said that the project will create 60,000 new jobs, and that the fabrics produced at the complex will be exported to China, Europe and the US.
By Choi He-suk (cheesuk@heraldcorp.com)
