Henan Xinfang Co Ltd and China Textile Machinery Group Corporation are putting RMB280 into a textile dyeing and printing project.

The joint venture, which will result in the creation of Xinyie Cotton textile Co Ltd, involves 500 shuttle looms, 300 shuttleless looms, and 50,000 spindles.

Early-stage evaluation and land acquisition in the Xinyie Industry zone have already been completed.