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Shineco working on hemp fibre with Shanxi Oasis Textile

12
Dec '19
Pic: Shineco
Pic: Shineco
Shineco, a producer and distributor of specialised textiles, Chinese herbal medicines, organic agricultural produce, and various health and well-being focused plant-based products in China, has established a hemp fibre preliminary processing sales framework contract with Shanxi Oasis Textile, an enterprise in China that produces textiles of hemp.

Shineco has entered into the contract through its subsidiary Shineco China Hemp Technology Co, Ltd (SCHT).

SCHT is a biotechnology enterprise focusing on industrial hemp comprehensive utilisation. The Shineco holds 60 per cent of the shares of SCHT and is the controlling shareholder. SCHT is located in the Jinzhong Development Zone of Shanxi's Transition and Comprehensive Reform Demonstration Zone, which has a history of over 2800 years of agricultural cultivation, development and utilisation of industrial hemp.

Shineco plans to build a comprehensive industrial chain of industrial hemp by applying the traditional local craftmanship. The total scale of the project is estimated to reach approximately 82,348 acres. The harvest of industrial hemp has been completed this year and the construction of the project is expected to be gradually completed in the next three years.

Yuying Zhang, chairman and chief executive officer of Shineco, commented, “Shineco officially entered into the industrial hemp industry this year and first established a CBD-based product system in Heilongjiang Province, China. Now we have integrated the industrial hemp resources in Shanxi Province and established SCHT to gradually achieve comprehensive use of industrial hemp. We applied advanced technology to the traditional industry hemp industry, which extends the application of industrial hemp to hemp fibre textiles, antibacterial and environmentally friendly building materials, hemp seed oil and protein powder, oligopeptide as well as industrial hemp essential oil.”

Zhang continued, “Our innovation technologies greatly add to the value of industrial hemp. We expect to achieve RMB20 billion output value after the completion of the entire project.”

Fibre2Fashion News Desk (SV)


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