GMC to Invest US$30Mln into 3 Property Projects
The Saigon Garment Manufacturing Joint Stock Co. (Gamex Saigon) has recently announced its plans to invest about US$30 million into three key property projects, Ho Chi Minh Security Trading Center reported.
Garmex Saigon will contribute VND30 billion to build a VND300 billion (US$18.7 million) trading-entertainment complex that is expected to be kicked off this year, on Tran Hung Dao Street, District 5, HCM City.
In October, it will start construction of a 50,000 sq.m garment factory, with VND20 billion in the first phase, in Tan Thanh district, Ba Ria-Vung Tau province, noted the source.
The company will join hands with Thai Yuan with 51-49 ratio to invest US$10 million into building an office-for-lease block in Hong Bang Street, District 5, HCM City, scheduled for start by early 2009.
In the first six months of this year, Garmex Saigon posted net profit of VND9 billion, up 138.5 per cent on-year. (Vietnam Economic Times)
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