Xinxiang Chemical Fiber approves 100kt/year of high-quality ultra-fine denier spandex fiber Phase III project

In order to make full use of the company's spandex fiber production resources, optimize the company's product structure, stabilize the production scale of spandex fiber, enhance the market competitiveness of the company's products, and improve the company's economic benefits, Xinxiang Chemical Fiber plans to implement the third phase of the high-quality ultra-fine denier spandex fiber project with capacity at 100kt/year.

The product scheme is ultra-fine denier spandex fiber, with capacity of 40kt/year. The construction site is located in the National Xinxiang Economic and technological Development Zone. The total investment of the project in this period is 1.03716 billion yuan, of which: 945.42 million yuan in construction investment, 33.81 million yuan in financial expenses during the construction period, and 57.94 million yuan in working capital.

This project is scheduled to start construction from the second quarter of 2022 and will take 15 months.

After reaching production, the annual sales revenue of the project is expected to increase by 1.5962 billion yuan, and the annual sales profit is expected to be about 195 million yuan. After the completion of the project, the company's market competitiveness will be further enhanced.