Cone Denim will continue
construction of textilera frank zone
Maricela Boiler
The investment of more than 100 million dollars in a textilera will
take shape with the new government. Thus they presented it
representatives the American Cone Denim, a division of
International Textil Group (ITG), after a meeting who maintained
with the vice-president of the Republic, Jaime Morales.
The negotiation so that the American company, considered the
second greatest one of the world, settled down in the country
carried out during the previous government, and the
representatives of the company yesterday guaranteed that they
will continue with the plans to construct it in Sandino City.
Joe Gorga, President of Cone Denim, said that “it is normal that
we are a little afraid with this investment, since there is in
game more than 100 million dollars, nevertheless, our level of
confidence in the Nicaraguan market is improving”.
In order to confirm the confidence, Gora said that almost three
million dollars in the site have been reversed and nine million
dollars in machineries.
Matt Haynes, Vice-president of the company investor, affirmed
that it hopes that in nine months the construction is finished
and for March of 2008 already it is operating.
Also, the investors made the request to president Daniel Ortega,
so that she constructs a highway that facilitates the access to
the zone, a proposal that, according to them, received a
positive answer from the governor.
The American investors initiated the concessions for the
millionaire investment from the last year, reason for which,
when being with a new political scene, they were afraid.
On the other hand, vice-president Morales, who will be in charge
of the banking and enterprise subjects of the government, showed
in the press conference the disposition to work altogether with
the North American investors.
Alvaro Baltodano, Executive Director of the Nicaraguan
Corporation of Frank Zones, expressed that behind this
investment others come from that magnitude, this time of
Taiwanese origin.
“Taiwan, besides to invest in frank zones, tries to make
hydroelectric projects in the country”, expressed.
Cone Denim is first and greater textilera than will be
constructed in Nicaragua, the platform of the land is of more
than 55.000 square meters and it is tried that it generates more
than 800 uses, according to Gorga.
The company glides to produce 28 million yards of fabric to the
year and the creation of about eight thousand additional uses is
considered. |
