Turk­menistan to set up a new tex­tile man­u­fac­tur­ing com­plex

Apparel Online - - Tex-file -

An agree­ment has been inked be­tween Turk­ish com­pany Co­tam En­ter­prises Ltd. and the Min­istry of Tex­tile In­dus­try of Turk­menistan to set up a new tex­tile com­plex in the coun­try. Con­struc­tion work of the com­plex will kick off from the next month. The up­com­ing tex­tile com­plex is ex­pected to be op­er­a­tional by March 2021. It will be set up in Turk­menistan’s Akhal Ve­layat (re­gion) and will be equipped with mod­ern tex­tile man­u­fac­tur­ing tech­nolo­gies. The up­com­ing tex­tile unit will pro­duce 3,650 tonnes of cot­ton yarn and 1.2 mil­lion pieces of ready­made gar­ments (RMG). 12 mil­lion square me­tres of high­qual­ity fabric for gar­ments will also be pro­duced at the newly an­nounced tex­tile fa­cil­ity. Markedly, the set­ting up of a new tex­tile com­plex in Turk­menistan is part of Govern­ment’s plan to in­crease in­vest­ment in the tex­tile in­dus­try of the coun­try to US $ 2 bil­lion by 2020. The Govern­ment in­tends to up­grade the ex­ist­ing tex­tile and gar­ment man­u­fac­tur­ing units and set up the new ones in or­der to strengthen the in­dus­try in Turk­menistan.

The ad­di­tion of the new tex­tile plant is an­tic­i­pated to in­crease the an­nual ex­port earn­ings of the coun­try by US $ 350 mil­lion and en­able the pro­cess­ing of around 2,30,000 tonnes of cot­ton per an­num.

The Govern­ment is even con­sid­er­ing im­prov­ing the sur­round­ing ar­eas of the up­com­ing tex­tile unit and im­prov­ing the ba­sic in­fras­truc­tural ameni­ties. No­tably, more than 20 tex­tile man­u­fac­tur­ing com­pa­nies with Turk­ish as­so­ciates are al­ready op­er­a­tional in Turk­menistan.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.