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Fujian textile industry to invest in upgradation
03
Feb '12
The traditional textile industry of Changle in suburban Fuzhou, located in east Fujian province of China, will undergo transformation as several projects have been signed for introduction of new technology and upgradation of the textile industry.

A total of 17 projects, with a combined investment of 15.33 billion yuan, have been signed at the Changle “Love Hometown and Start Business” Spring Festival Symposium.

Textile industries dominate the economy of Changle and were facing problems like high energy consumption and high pollution due to their reliance on outdated technology. This, along with the prevailing high labour cost, was reducing the competitiveness of the Changle textile industry.

Last year, the Changle government outlined plans aimed at transforming and upgrading the textile industries. This included schemes for financing, technical upgradation and brand promotion.

There was also a consensus among entrepreneurs to introduce new technologies at their manufacturing plants.

At the Symposium, a contract was officially signed for the Jingfen chemical fibre project. Jinjiang Spinning Co. Ltd., Shanli Chemical Fibre Industry Co. Ltd. and Fujian Jinlun Fibre Shareholding Co. Ltd. also announced investments in major high-tech projects that include projects related to value-addition.

The new projects would also boost production capacities of various firms that are engaged in the production of caprolactam (CPL), Purified Terephthalic Acid (PTA), fabrics and garments.

Fibre2fashion News Desk - China

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