Millknit investment to revive Nicaragua garment industry
Nicaragua is set to begin manufacturing fabrics and textiles for apparel companies in the country’s free zone sector this year.
US-capital textiles firm Millknit Industries is set to start operations any time soon in the Las Mercedes industrial park in Managua. An initial investment of $25 million has been allocated for the initiative.
Until Millknit, Nicaragua had only one garment-producing company, Cone Denim, which was closed down in March 2009, after operating for less than a year.