Textile machinery project with 500 million Yuan investment was formally signed in Yantai Laiyang Development Zone on November 15, which is the 10th project in the development zone with more than 100 million Yuan investment, and the 5th project in the development zone with more than 500 million Yuan investment. The project was constructed by Jiangsu Yancheng Textile Machinery Co., Ltd which was founded in 1970, one of the medium-sized key enterprises designated by Textile Machinery Association of China, High-tech enterprise of Jiangsu Province.
In order to expand the market in north China, after investigation and evaluation, Jiangsu Yancheng Textile Machinery Co., Ltd. finally decided to settle in Laiyang Development Zone. The project with total area of 180 mu, and building area of 60,000 square meters, mainly deal with the production and sales of different series of textile machinery. After put into production, the estimated annual sales income will reach 600 million yuan, profits and taxes will achieve 80 million yuan