Without going into details, Mariano Olazabal, director of Proesa, said the textile company would invest about $ 12 million and the plastic company would make an investment of about $ 25 million.
"Those are the two most important investments expected in the coming months, although there are also expansions expected in some of the companies already operating in the country," writes Laprensagrafica.com.
Between 2009 and 2012 exports of Salvadoran plastic products grew by 60%, reaching $105 million, with the main buyer being Guatemala.
The plastics industry of El Salvador increased its foreign sales by 60% between 2009 and 2012. According to data of the Central Reserve Bank of El Salvador, in 2012 alone, over $81 million worth was sold to Guatemala.
With the opening of its sixth garment production plant, the company has made a total investment of $200 million since its arrival in the country in 1992.
Keny López wrote in LaPrensagrafica.com: "'This new Hanesbrands project called 'El Salvador Socks' entails the creation of 500 jobs which would double within a period of 12 months when the plant is operating at full capacity,' said Ron Gburek, vice president of weaving for Hanesbrands Inc. 'Production in El Salvador will go to retail stores across the United States. The plan is not to supply the Central American market, but we would eventually earmark a portion of production to this market' explained Gburek.”
Textile companies had invested millions of dollars in creating new plants here in the hope of exporting clothing tariff-free into the Unites States.
That was before the Supreme Court’s Constitutional Chamber (Sala IV) decided that the lawmakers had missed a step in procedure and sent back the environmental law that had been passed only weeks before.
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