Home / Knowledge / News / Textiles / Huafu to raise 2.2 bn yuan for two projects
Huafu to raise 2.2 bn yuan for two projects
12
Apr '16
China’s Huafu Top Dyed Mélange Yarn Co., Ltd. recently announced that it will raise 2.2 billion yuan through non-public offering of shares, out of which, 1.78 billion yuan will be used for the 160,000-spindle project for high-grade mélange yarn respectively in Akesu, Xinjiang Uygur Autonomous Region and in Vietnam, and the remaining 420 million yuan for replenishing operating fund, the China Textile Leader said on its website.

According to the announcement, the project in Akesu will cost a total investment of about 899 million yuan, including about 145 million yuan for construction and 575 million yuan for purchasing equipment. The project includes an annual production capacity of 160,000 spindles for high-grade color-spun yarn and associated storage, fire-fighting, power supply and heat supply as well as waste water discharge and sewage disposal facilities. The project is expected to be finished construction in 24 months and the facility will produce 29,000 tonnes of mélange yarn.

Huafu’s project in Vietnam will cost a total investment of 884.22 million yuan, including 118.48 million yuan for construction and 588.04 million yuan for purchasing equipment. It is expected to be put into operation within 24 months and produce 26,880 tonnes of high-grade mélange yarn. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search