Jiangxi Fanyang delegation visited Changle of Fujian from Oct. 15-16, and signed a letter of intent with Changle Changyuan Textile Co., Ltd. to invest 2.16 billion yuan to set up a one-million-spindle textile mill in Fanyang.

This one-million-spindle textile project will be located in Fanyang Industry Zone, covering an area of 1600 mu and constructing in five stages. The first stage will invest 500 million yuan to set up a 200,000 spindles high and mid count yarn production lines, covering an area of 400 mu. It is expected to start contruction at the end of this year and put into production in 2011. The whole project is estimated to complish by 2015. upon that time, the annul sales will reach three billion yuan, and creating 3000 jobs there.

source:CTEI