Shandong Ruyi Technology Group Ltd, one of six major industrial groups in the province, has started the construction of 2,50,000 spins project for dense spun thread, last month, in Economic Development Zone of Wenshang County, Jining, Shandong.
The project will cover 278 Chinese Mu, with a total investment of nearly 1.02 billion yuan. The new unit will mainly produce 50 to 180 count dense spun thread.
Experts believe that, once the project gets started, the unit will be able to produce 28,000 tons dense spun thread, with sales reaching almost 1.2 billion yuan and profits and taxes coming up to nearly 300 million yuan.
The project is expected to get completed by the end of this year.
Fibre2fashion News Desk - China
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