China : Shaoxing Pvt Textile Co plans 1st overseas park in Nigeria

Yue Mei Group, a private enterprise in Zhuji City, Shaoxing, Zhejiang Province, is planning to establish the Yue Mei (Nigeria) Textile Industry Park in Nigeria. It will be China’s first textile industrial park, overseas.

The park’s total investment will reach US $49.8 million, covering more than 600 Mu (one hectare = 15 Chinese Mu). Now the project has been approved by the Development and Reform Commission of Zhejiang Province, and has submitted to the Ministry of Commerce for approval.

Yue Mei Group has total assets of over 2 billion yuan, with 7 companies in spinning, weaving, embroidery, clothing, and real estate. Currently, Company has six offshore trading enterprises, 2 overseas production and processing units in Nigeria, Dubai and other places. Its sales amount exceeded 1 billion yuan last year.
 
 
Fibre2fashion, News Desk - China