The Paojiang New District of Shaoxing City has been making its commitment to building the largest textile resources reclamation base over the past few years. Up to now, two companies: Zhejiang Jiaren New Materials and Zhejiang Lvyu Environment Protection have joined this environment protection project.
Zhejiang Jiaren New Materials is a joint venture between Zhejiang Jinggong Holding Group and Japan Teijin Group. The company uses chemical method (ECO-CIRCLE technology) to manufacture recycled polyester fibers. In the first quarter of 2016, the company's total sales amounted to CNY 60 million and it is expected to reach CNY 200 million.
Zhejiang Lvyu Environmental Protection Co. is a new project invested by Zhejiang Guxiandao Industrial Fiber Co. It is designed to use the technology and process similar to ECO-CIRCLE to turn waste textiles into polyester chips. These chips are mainly sold to domestic textile mills for producing polyester filaments or staple. The project costs a total investment of CNY 5 billion. The first-phase project, with an investment of CNY 1 billion, broke ground in March. In the next five years, the total production capacity is expected to reach 1 million tons/year and total sales to reach CNY 10 billion. By then, it will be the largest base for regenerated resources in China.
Only 10 per cent (about 1.5 – 1.6 million tons) of waste textiles are reused in China at present. After two years, the above-mentioned two companies will be capable of recycling about 600,000 tons of textile wastes every year, accounting for 1/3 of China's total.