CHINA: Lizhan secures $9.5m credit to expand eco-leather
Lizhan Environmental Corporation, which makes fibres and fabrics from recycled leather waste, has secured credit lines worth $9.5m credit line to fuel its expansion.
China Citic Bank is providing $3.4m credit and the Industry and Commercial Bank of China is providing another $6.1m.
The company is also investing in four sets of water treatment equipment to complete its first Evergreen production line, which should produce 70,000 metres a month by June.
But while another three production lines are planned, delays in completing the first are expected to have a negative impact on the company's aggregate production capacity and orders.
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