Huafu Top Dyed Mélange Yarn Co., Ltd. recently announced that it will raise CNY 2.2 billion through non-public offering of shares, in which, CNY 1.78 billion will be used for the 160,000-spindle project for high-grade mélange yarn respectively in Akesu, Xinjiang Uygur Autonomous Region and in Vietnam, and the left CNY 420 million for replenishing operating fund.

According to the announcement, the 160,000-spindle project in Akesu will cost a total investment of about CNY 899 million, including about CNY 145 million for construction and CNY 575 million for purchasing equipment. The project includes an annual production capacity of 160,000 spindles for high-grade color-spun yarn and associated storage, fire-fighting, power supply and heat supply as well as waste water discharge and sewage disposal facilities. The project is expected to be finished construction in 24 months and by then produce 29,000 tons of mélange yarn.

The project of Huafu (Vietnam) will cost a total investment of CNY 884.22 million, including CNY 118.48 million for construction and CNY 588.04 million for purchasing equipment. It is expected to be put into operation within 24 months and produce 26,880 tons of high-grade mélange yarn.

Source: China Textile Leader Express