Uzbekistan to invest US$626m into textile sector
09/04/2015 14:13
Uzbekistan to invest US$626m into textile sector
09/04/2015 14:13
Tashkent, Uzbekistan (UzDaily.com) -- Enterprises of textile industry of Uzbekistan will invest US$626.2 million into modernization and creation of new capacities in 2015-2019, RIA Novosti reported quoting the corresponding programme.
The programmes, was approved by the presidential decree, includes 55 projects on modernization and re-equipment of enterprises of the industry. The projects will be financed due to foreign investments and loans for US$202.3 million, loans of the Uzbek banks – US$313.1 million and own resources of the enterprises – US$110.8 million.
Swiss capital will invest US$94 million into three textile projects in Uzbekistan. LTA Textile Cooperatief U.A of the Netherlands will launch a textile complex with the cost of US$55 million in 2016. Singapore’s Indorama Industries will expand spinning production worth US$50 million.
Implementation of the programme will allow to increase production of cotton yarn up to 474,500 tonnes (1.4 times compared to 2015), cotton fabrics – up to 445.2 million square meters (1.64 times), knitting yarn – up to 91,100 tonnes (1.7 times), garment and knitwear products – up to 408 million units (1.62 times) and hosiery products – 72.2 million (1.8 times).
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