Cotton processors in northwest China's Xinjiang Uygur Autonomous Region are planning to build a cotton trading center in the country's largest cotton planting area.
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The center will be located in the Xinjiang Huijin Logistics Garden, Korla City, in southern Xinjiang. It will be jointly supported by 17 cotton purchase and processing enterprises with a total investment of 1.5 billion yuan (242 million U.S. dollars).
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The first phase of the project, with an investment of nearly 300 million yuan, will have a storage capacity of 600,000 tons, while the second-phase project will bring that capacity to 3.6 million tons.
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Besides storage, the center will cooperate with other cotton future centers in the country to make it a complex platform for cotton logistics, trade and transaction.
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Xinjiang is China's most important cotton planting area, with its output accounting for more than half of the national total. Â