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

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.

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