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Cotton spinning factory of Turkmenistan’s Lebap region names production data

Business Materials 8 May 2021 17:57 (UTC +04:00)
Cotton spinning factory of Turkmenistan’s Lebap region names production data

BAKU, Azerbaijan, May 8

By Jeila Aliyeva - Trend:

Cotton spinning factory in Turkmenistan’s Lebap region has manufactured products worth over 14.9 million Turkmen manat ($4.2 million) since the beginning of this year, Trend reports with reference to the Business of Turkmenistan information portal.

During the reporting period, the volume of exports of the factory’s products amounted to 10.1 million manat ($2.9 million). The factory's products are in high demand in countries such as Russia, Turkey, and Poland.

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.

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Follow the author on Twitter: @JeilaAliyeva

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