Fibre2Fashion Magazine June 2018 June 2018 | Page 18

Beat
CHINA
China, Nigeria opt currency swap to cut dollar use
Nigeria, Africa’s largest economy,
and China have agreed to swap
their currencies in order to reduce
their dependency on third-country
currencies and thereby, give a boost to
FIBRE | YARN
Lenzing begins Ecovero viscose
fibres production in China
Pic courtesy: Lenzing
The Lenzing Group has introduced
the eco-responsible process for the
production of Lenzing Ecovero branded
viscose fibres at its Chinese location,
Lenzing Nanjing Fibres (LNF). The
company first launched the fibres in
autumn 2017. The expansion of the
production of Lenzing Ecovero fibres
emphasises the focus of the Lenzing
Group on specialty fibres.
Certified with the EU Ecolabel,
Lenzing Ecovero are derived from
sustainable wood and pulp, coming
from certified and controlled sources
(FSC or PEFCTM certified) following
the stringent guidelines of the Lenzing
wood and pulp policy.
A special manufacturing system
enables Lenzing Ecovero branded viscose
fibres to be identified in the final product,
even after long textile processing and
conversion steps through the value
chain. Thus, the retailers and brands
are assured that they are incorporating
Lenzing Ecove ro eco-responsible viscose
in their products. 
PETROCHEMICALS
CNOOC, Shell JV starts production
at 2nd ethylene cracker
China National Offshore Oil Corporation
(CNOOC) and Shell Nanhai BV (Shell)
18  | FIBRE 2 FASHION JUNE 2018
their bilateral trade. The agreement for
a three-year swap of 15 billion yuan or
720 billion naira was signed recently
by the Central banks of both countries
in Beijing. The currency swap was
calculated at the Nigerian central
bank’s official rate of around 305 naira
per dollar.
The transaction will “provide naira
liquidity to Chinese businesses and
provide renminbi liquidity to Nigerian
businesses respectively, thereby
improving the speed, convenience and
volume of transactions between the
have announced the official start-up
of the second ethylene cracker at their
Nanhai petrochemicals complex in
Huizhou, Guangdong Province, China.
With the commencement of
production at the new ethylene cracker,
ethylene capacity at the complex has
increased by around 1.2 million tonnes
per year, thus, more than doubling the
capacity of the complex. The new facility
will also include a styrene monomer
and propylene oxide (SMPO) plant,
which will be the largest in China when
it begins operations.
Pic courtesy: Shell Global
The new complex utilises Shell’s
proprietary OMEGA, SMPO and polyols
technologies to produce ethylene
oxide, ethylene glycol, propylene oxide
and high-quality polyols, as well as
advanced technologies for polyolefins,
phenol and oxo-alcohols production.
two countries,” the Central Bank of
Nigeria said in a statement.
It will allow Nigerian companies to
import spare parts and raw materials
from China by sourcing the Chinese
currency from local banks and help
them avoid “the difficulties of seeking
other scarce foreign currencies,” it said.
The deal will also help Chinese
manufacturers sourcing raw materials
from Nigeria to obtain the Nigerian
currency from banks in China to pay
for their imports from the African
country.
The two plants with a capacity
of 1,250 kta each will come up at
Lianyungang’s petrochemical facility
in Jiangsu Province, China. Their design
will utilise CB&I’s market-leading,
low-cost ethane cracker flowsheet
which reduces investment costs by
eliminating plant equipment. Once
complete, these will be China’s first
ethylene plants to crack 100 per cent
ethane feed, signifying a new wave
of ethylene projects fed by shale gas
ethane sourced from the US.
SUPPLY CHAIN
Li & Fung joins hands with
Softwear Automation
Li & Fung, a supply chain solutions
partner for consumer brands and
retailers, is collaborating with
Softwear Automation, a US company
that develops revolutionary sewing
technologies for manufacturing
automation in the home goods, footwear
and apparel industries, to create a fully-
digital manufacturing supply chain for
apparel and textile products.
CB&I bags ethylene technology
contract from Lianyungang
CB&I, a leading provider of technology
and infrastructure for the energy
industry, has been awarded an ethylene
technology contract by Lianyungang
Petrochemical Co., Ltd., a subsidiary
of Zhejiang Satellite Petrochemical
Co., Ltd. The scope of work includes
a process design package, heater
engineering and technology license for
two ethylene plants.
Pic courtesy: Software Automation
The two have signed a strategic
cooperation agreement. The partnership
leverages Li & Fung’s global supplier
network and Softwear’s autonomous
sewing worklines. It will initially focus
on the supply chain of t-shirts, with
potential to expand to other product
categories in the future.