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Xinjiang Kashi Hongbang Water-saving Co., Ltd.(Hongbang Water-saving)recently signed an investment agreement with Tsing Capital and Huachuang Shengjing Fund in Beijing, under which the two investors pumped RMB40M into Hongbang Water-saving as the first round of investment. Sources said that this would promote the rapid development of water-saving agriculture in Xinjiang.
According to Li Fucheng, Chairman of Hongbang Water-saving, with the modern drip irrigation technology, water usage for one mu (about 0.07 hectare) of land irrigation would be reduced to 500m3, approximately one third of the original flood irrigation. If all drip irrigation technologies are used in Kashi, the local economic benefit will be significantly enhanced. As for individual farmer, cotton yield will grow to 100kg per mu of land, equal to increasing revenue of around RMB800.
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