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

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2020

India widens scope of credit guarantee scheme for MSMEs

India last week widened the scope of the ₹3-lakh crore credit...

Pic: IndianOil

Textiles | On 4th Aug 2020

IndianOil to set up ₹13,805 cr PX-PTA complex at Paradip

The board of Indian Oil Corporation Ltd (commonly known as IndianOil) ...

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2020

EVFTA fabric origin rule a challenge for Vietnamese firms

Despite the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

There's a lot more potential in women than what we are witnessing today

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Carmen Makover,

Carmen Makover

Leading the digital textile printing industry, Israel-based Kornit...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

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

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

Leave your Comments


July 2020

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


Advanced Search