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Turkmen cotton-spinning factory names volume of output for 2020

Business Materials 18 January 2021 14:37
Turkmen cotton-spinning factory names volume of output for 2020

BAKU, Azerbaijan, January 18

By Jeila Aliyeva - Trend:

Gokdepe Cotton Spinning Factory of the Ministry of Textile Industry of Turkmenistan has manufactured products worth 69.9 million Turkmen manat (more than $20 million) for 2020, Trend reports with reference to the Business Turkmenistan information portal.

The factory has manufactured thousands of tons of cotton yarn (Nm16 and Nm20), which is used in the manufacture of clothing and knitwear products and is also competitive in the world market.

Turkey, Russia, China, Kazakhstan, Azerbaijan, Belarus, and Ukraine are major consumers of the textile industry of Turkmenistan.

In particular, more than 30 Turkmen enterprises are exporters. The export of Turkmen textiles amounted to $318.9 million from January through November 2020, the report says.

Turkmenistan plans to allocate more than $300 million for the implementation of over 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.

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