Shenzhen Stock Exchange-listed Jiangsu Lianfa Textile is to set up a spinning factory in Central Java next year with an investment of IDR5-6trn (US$350-422m), according to Ade Sudrajat, chairman of the Indonesian Textile Association (API), reports the South China Morning Post.
The factory will produce yarn for shirt-making, reducing the cost of yarn imports by US$1bn for Indonesian shirt-makers and helping them produce final goods such as fabrics and shirts more speedily for the US market, he said.
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