Horqin Left Wing Middle Banner in Inner Mongolia recently signed a contract with Qian'an Guanlong Linen Textile Co., Ltd. in Jilin Province on a linen textile project.
It is reported that the project will cost a total investment of CNY 202 million, including CNY 105 million in fixed assets. The project will be set up on a land area of 100,000 square meters with 10,000 flax wet-spinning spindles and weaving capacity for 8 million yards of fine linen. After the project is completed, it is expected to turn out annual sales revenue of CNY 170 million and pre-tax profit of CNY 57 million and offer 1,426 jobs. is expected to reach 100,000 square meters.
Source: China Textile Leader Express