$410 million project slated for Forrest City

$410 million project slated for Forrest City

LITTLE ROCK, AR (KAIT) - According to Gov. Asa Hutchinson and state economic development officials, Shandong Ruyi Technology Group will invest $410 million in the former Sanyo manufacturing facility in Forrest City.

Shandong Ruyi will use the facility to spin cotton into yarn for textile use, officials said. The project is expected to create nearly 800 jobs, with renovations on the building set to start later this year.

Ruyi plans on processing more than 200,000 tons of Arkansas cotton annually at the facility. Production should begin by mid-2018.

"Ruyi Group, as the largest textile manufacturer in China, has been expanding globally," said Chairman Yafu Qiu. "Our manufacturing facility in Arkansas will become the first milestone of Ruyi's steps into the United States."

Ruyi plans on processing more than 200,000 tons of Arkansas cotton annually at the facility. Production should begin by mid-2018.

"This project is tremendously important to Forrest City and St. Francis County not just for the great jobs it brings to our region, but also for the value to the cash crop on which the Arkansas Delta economy has been based for more than 100 years," said Kay Brockwell, economic development consultant for Forrest City. "Our cotton already goes around the world to clothe people, and now our growers will have the security of a market for their crop right here at home."

Region 8 News will have more information as details emerge. Follow us on Twitter and Facebook for up to the minute updates.

Copyright 2017 KAIT. All rights reserved.

Region 8 News App - Install or update on your: iPhone | Android