Honduras will build the largest spinning mill in the Americas

Honduras will build the largest cotton spinning mill in the Americas, with an investment of US$250 million, announced the Secretary of the Presidency, Héctor Zelaya Castro.

“It is no small thing that with a Honduran investment by Caracol Knits for more than US$250 million today [August 29] the historic construction of the largest spinning mill in the Americas is announced. One more vote of confidence in the government of the president Xiomara Castro!” the president’s son tweeted.

In statements to the media, Zelaya highlighted the event as a sign of the confidence generated in investors by the government of the Libertad y Refundación Party (Libre,left), whose administration is just beginning its eighth month.

He pointed out that the investment of US$250 million will be made in three stages.

Zelaya indicated that Honduras is the largest consumer of threads from the United States and after the start-up of the new factory it will become the largest producer of this item in the Americas.

The Caracol Knits company will be located in the Potrerillos municipality, department of Cortés (north) and when it starts operating, it will offer 4,500 direct and permanent jobs.

At the investment presentation ceremony, which was attended by the Ministers of Economic Development (Pedro Barquero) and Investments (Miguel Medina), the executives mentioned the fact that the plant will replace imports of Asian thread and will also promote the development of the agricultural sector.

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