Chongqing Wanzhou local government signed an investment agreement with Shandong Ruyi Group in the morning of Feb. 18th. Shi Daping, the head of Wanzhou government and Qiu Yafu, the chairman of Shandong Ruyi Group presented this press conference and expressed the wish of further cooperation to extend industry chain and promote the development of textile industry, and making effort to construct a West Textile City with ten billion yuan annul sales income.

Chongqing planed to construct Wanzhou as the second largest city in this region. Wanzhou then worked hard to develop labor extensive industries like textile and clothes, and construct cotton textile and dyeing & printing base. Since 2005, Shandong Ruyi invested a 250thousand spindles compact spinning program in Wanzhou and became the leading company in this city. In this agreement, Ruyi would invest a 50 million meters high-end color weaving fabrics line, a 10 million high-end shirt line and its second stage 250thousand spindles compact spinning line and introduced its national science and technology awarded Ruyi Spinning technology into those facilities. Upon the completing of those programs, it would create 10thousand jobs and sales income was expected to be 10 billion yuan.

Qiu Yafu said Ruyi appreciated the support of Wanzhou local govornment. The Group would further extend tis industrial chain and quicken the construction of new programs, and make contribution for the builiding of Wanzhou as West Textile City and second largest city of Chongqing.

source:CTEI