Nicaraguan Textile Company Invests $3 Million

Istmo Textil Nicaragua has launched a new textile manufacturing facility where it expects to employ 2,500 people.

Thursday, September 9, 2010

The investment means that the company, backed by Korean capital, will look to achieve exports worth $120 million in 2010 and will employ a total of 5,000 workers.

Álvaro Baltodano, technical secretary for Nicaragua's free trade zone committee said that, "the South Korean investors expect to be able to increase the number of people employed to 7,000 next year and export $150 million worth of textiles," according to Laprensa.com.

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