Nicaragua: Investments for $ 80 Million at Free Zone

The arrival of new textile plants, the expansion of three plants and the reopening of another were announced by the textile sector.

Thursday, January 6, 2011


©image:

With an investment of $ 50 to $ 60 million, the National Commission of Free Zones (CNZF) is negotiating the installation of a new textile factory with a foreign capital group.

Dean García Foster, executive director of the Nicaraguan Association of Textiles and Apparel (Anitec), said three textile companies have confirmed their expansion plans, which involves an estimated investment of $ 20 million.

"One of the companies is Sincotex, which produces pants, generating 2.000 new jobs. Pant producer Gildan would also create about as many jobs as Sincotex with an expansion of their own," reports Laprensa.com.ni.

More on this topic

Nicaragua Courting Chinese Textile Investment

September 2011

The country is planning two trade missions for next year to publicize its advantages as an investment destination.

The executive director of the Investment and Promotion Agency ProNicaragua, Javier Chamorro said that goal during the missions is to visit garment factories.

Nicaraguan Textile Industry Foresees Recovery in 2010

January 2010

The sector expects to create 6.000 jobs this year, as well as increased orders from international markets.

Dean García is the president of the Nicaraguan Textile Industry Association (Anitec). He identifies two key elements in this recovery: improvement in the U.S. economy and new markets like the European Union and Canada.

Textile Cone Denim Reopens in Nicaragua

January 2011

During the course of the year, the U.S. textile company will restart operations in the country.

The start-up would initially create 700 new jobs.

"The secretary of the National Free Zone Commission (CNZF), Alvaro Baltodano, and executive director of the Nicaraguan Association of Textiles and Apparel (Anitec), Dean Garcia, confirmed to the press that the reopening of the company is underway and will become official in the coming weeks,” according to an article at Laprensa.com.ni.

Woven Fabric Production in Nicaragua

November 2012

Millknit Industries will begin operations in early 2013, producing fabrics for clothing companies established in the free zones.

Following the closure of Core Denim in 2009, Nicaragua has had no cloth production, which is a disadvantage for the clothing sector, which has to import its raw materials.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Partner needed for financing/construction in Punta Leona, CR

I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction.
Wanted partner for financing and/ or construction in the...

Companies

Stock Indexes

(Feb 24)
Dow Jones
0.05%
S&P 500
0.15%
Nasdaq
0.17%

Commodities

(Feb 24)
Brent Crude Oil
56.31
Coffee "C"
146.25
Gold
1,258
Silver
18.375