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Chinese company to invest $2 bn for plant in Pakistan

The Shandong Ruyi Technology Group is investing $2 billion to set up a cotton spinning facility in Pakistan. It has already bought 1,036 acres of land out of the total area of 4,500 acres in an industrial zone operated by the Faisalabad Industrial Estate Development and Management Company (FIEDMC). Shandong is China’s fifth largest textile company.

The Shandong Ruyi textile park will have an annual capacity to produce 1,57,000 tons of yarn, 500 million meters of Batik fabric, 100 million meters of denim fabric and 10 million pieces of jeans. The project will be implemented in two phases. In the first phase, it will set up the largest textile mill and in the second phase workshops and equipment, vending and packing units will be established over an area of 536 acres.

The project is estimated to generate job opportunities for more than 35,000 persons. Shandong Ruyi owns cotton fields in Australia and Vietnam from where it will import cotton to feed the spinning mill. The company will install a 135-mw coal-based power plant to avoid disruption of work. After meeting its requirements, surplus energy will be sold to other industrial units. The company will provide a combined effluent treatment plant to reduce the cost of production.