The project will be in two phases with the first factory giving employment for 1,200 people and the second for 800.
The new factories will be the 17th and 18th manufacturing facilities to be set up by the apparel group.
Timex and Fergasam currently employs more than 8,000 across its 16 manufacturing facilities with offices in UK and Hong Kong.Among clients of Timex and Fergasam are top labels like Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin, the statement said.