BAKU, Azerbaijan, January 15
By Jeila Aliyeva - Trend:
Turkmenistan’s Cotton-spinning mill in Turkmenabat has manufactured products worth 31.7 million Turkmen manat (over $9 million), instead of the planned 27.6 million manat ($7.9 million) in 2020, exceeding the assigned plan by 15 percent, Trend reports with reference to the Business Turkmenistan information portal.
In total, 3,370 tons of cotton yarn were produced at the the cotton-spinning mill last year.
In 2020, 80 percent of the cotton yarn manufactured by the mill was exported to Russia, the UK, Turkey, and Poland.
Domestic cotton yarn is in demand among companies in the UAE, Turkey and other countries. Textile production is also one of the selling goods to the State Commodity and Raw Materials Exchange of Turkmenistan.
Turkmenistan plans to allocate more than $300 million for the implementation of over than 30 projects in the textile industry by 2025.
Due to the above-mentioned investments, the manufacture of commercial products will grow 1.2 times in Turkmenistan over these years. Also, the implementation of the planned measures will allow the textile industry of Turkmenistan to carry out constant technical and technological re-equipment of existing and creation of new high-tech industries.
Major investments will be directed not only to expanding existing capacities, but also to creating more than 10 new production facilities based on existing enterprises that use modern technologies for the manufacture of environmentally friendly products.
In general, over the years of independence, about $2 billion were invested in the construction of new and reconstruction of existing textile enterprises.
There are more than 70 enterprises in the industry, including large textile, cotton spinning and weaving industries, clothing factories, silk processing enterprises, shoe factories, factories for primary processing of leather and wool.
Cooperation with foreign companies and international financial institutions that ensure the growth and further development of the textile industry in Turkmenistan. With the participation of foreign companies, 13 modern textile plants were put into operation, where the manufacturing of products that meet the most modern requirements of international quality, management and marketing standards was established.
Follow the author on Twitter: @JeilaAliyeva