Related Keywords: attracting investment from eastern regions, boom in textile investment, Henan Xinye Textile Co Ltd, qualified textile industrial parks, spindle plant, subsidized local cotton and electricity, Xinjiang
An 110,000-spindle plant backed by investment of 350 million yuan ($57 million) kicked off construction in Hutubi county. It is the third plant Henan Xinye Textile Co Ltd will have established in Xinjiang in the past 12 months. The three plants will employ 3,000 people in 3-5 years.
Understanding the potential for cotton production in Xinjiang and the vast market in central Asia, the company purchased a bankrupt textile company in Hutubi county last January.
