Home / Knowledge / News / Textiles / Zhejiang Hualian Petrochemical Ltd receives fresh funding
Zhejiang Hualian Petrochemical Ltd receives fresh funding
15
Oct '08
The recent slowdown in the textile and garment has turned many a company in to sick entities. The worst affected are the huge petrochemical companies who has made huge investments in the last few years on expectations of the boom to continue for a few more years.

Zhejiang Hualian Sunshine Petro-Chemical is one of the companies to be worst affected by the global turmoil. But now there is good news for the company. Yuan 1.7 billion has been injected as joint capital by the Huaxi Group and Shaoxing county government agencies.

Sources from the company disclosed and confirmed that new injection of funds has indeed taken place and that Zhejiang Hualian will re-commence full operations in a short period of time.

A lot of petrochemical companies in South-East Asia have reportedly cut operational rates of their plants in the last few months, in face of rising inventories due to slackening of demand from downstream sectors.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Apparel/Garments | On 19th Jan 2017

Apparel brand Mango adapts website for Middle East region

Spanish apparel brand Mango has unveiled an adapted version of its...

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Ashok Desai
Bombay Textile Research Association

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
January 2017

January 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