Baku, Azerbaijan, Apr. 25
By Fakhri Vakilov – Trend:
Uztextileprom Association organized a visit of the Chinese Jinsheng group to Uzbekistan, as a result of which an agreement was reached on creating cotton-textile clusters in the Kashkadarya and Tashkent regions, Trend reports via Uzbek media.
Jinsheng group of industrial companies specializes in textile, mechanical engineering and other industries. The group includes 77 companies and enterprises located in Germany, Switzerland, China and other countries.
Following the talks, the leadership of the Chinese corporation expressed readiness to work out a new project on creation of a cotton-textile cluster in 2019–2022 in the Kashkadarya and Tashkent regions on about 40,000 hectares of irrigated land for growing raw cotton.
Moreover the company expressed readiness in creating an industrial park in the Tashkent region with the attraction of $300 million in foreign direct investment and the creation of more than 1,000 jobs.
It is worth noting that in 2016-2017, the Chinese corporation implemented the 1st stage of a project for creation of a modern textile production in the Kashkadarya region. It spent $109 million of foreign direct investment and establish a high-tech textile complex i (“LT Textile”) with 700 jobs.
Currently, Jinsheng Group is implementing the 2nd and 3rd stage of the project for a total amount of $100 million. Commissioning is planned for the first quarter of 2020, with a total production capacity of 15,000 tons of mixed yarn and 10 million square meters of fabrics.
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