Turkmenistan to set up a new textile manufacturing complex
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.