China Fiberglass Plans New Fiberglass Line      

China Fiberglass Co., Ltd. (SH: 600176) said its 51% owned Jushi Group Co., Ltd. plans to build a 35 000 t/a production facility for environmental friendly direct-melt fabrication, according to a July 31st announcement. The project needs estimated investment of US$73.5 million.
   The project will be situated in the Jushi Group's planned fiberglass zone in Tongxiang, Zhejiang province, with fiberglass capacity of 600 000 t/a. The new facility will use waste fiberglass left by Jushi's plants as feedstock.
   Construction will be started in August 2008, while production is set to begin by the end of May next year.
   China Fiberglass said the project would help the company lower production costs, improve the usage of raw materials, further increases its competitiveness and profitability.