Business Activities News
- Saudi Arabian garment company makes hefty investment in China's cotton base
Date: 17-Jul-2007 Sources: (People's Daily)
A leading Saudi Arabian clothing company has launched a 50-million-U.S.-dollar cotton spinning project in Shihezi, northwest China's Xinjiang Uygur Autonomous Region.
Ajlan Bin Abdelaziz Alaajlan & Bros, one of the top Arabian garment makers in the world, may realize an annual sales revenue of 650 million yuan after the 160,000-spindle project goes into operation next June, according to Tageldin Saad, Ajlan's CEO in China.
Before the project in Xinjiang, Ajlan had invested 200 million dollars in its five subsidiaries in east China's Suzhou and Shandong, Tageldin said.
Xinjiang is China's largest cotton base. It produced two million tons of cotton last year, while Shihezi produced 300,000 tons.
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