Xinye textile Today, the company decides Elimination of backwardness Non standard spindle ingot 20 thousand spindles and 1080 56 inch shuttle looms. equipment , Converted into compact spinning project 。

The total investment amount of the project is 260 million yuan, of which 70 million yuan is raised by enterprises and 190 million yuan by bank loans. We mainly purchase advanced combing machines, combing machines and compact spinning equipment at home and abroad, developing and producing high-grade compact spinning. The project is implemented in the existing plant, and the infrastructure projects such as reconstruction of the corresponding trenches and supporting houses are invested about 30 million yuan. The investment in machinery and equipment is about 160 million yuan and the working capital is 70 million yuan. The project is scheduled to start construction in March 2011, with a construction period of one year.

The company said that after the implementation of the project, the economic benefits were significant. It is expected to produce about 6000 tons of compact spinning annually, with an average annual sales income of 330 million yuan and a total profit of 52 million 360 thousand yuan. The original value of the equipment was 16 million yuan, the accumulated depreciation was 15 million 300 thousand yuan, and the net book value was 700 thousand yuan.