(Turkmenistan.ru) - By a special decree of Turkmen President Saparmurat Niyazov the Ministry of textile industry of Turkmenistan is authorized to sign a contract with Turkish company 5Рњ Insaat Tekstil Ithalat Ihrajat Sanai Ticaret Ltd Sti on the design and construction of a velvet factory in Ruhabat district, reports Trend.
As Turkmenistan.ru correspondent was told in the press service of the Turkmen president, the document was adopted "with a view to fulfilling the task on development of the silk industry of Turkmenistan and implementation of the agreement on the long-term technical-economic cooperation between the government of Turkmenistan and the government of the People's Republic of China."
The cost of the project, including outer engineering services, totals US $14,490 mln (VAT included). According to the contract, the facility will be commissioned in October 2007.
In accordance with another decree of the head of state, the Ministry of textile industry of Turkmenistan is authorized to sign a contract with Shanxi international trading company Jum Shui Ltd (China) on the supply and installation of technological equipment and accessories for a velvet factory being built in Ruhabat district with the capacity of 1 mln meters a year at a total cost of Yuan 90 mln consisting of:
Yuan 50 mln issued by the government of the People's Republic of China for Turkmenistan as an interest-free loan;
Yuan 40 mln issued by the government of the People's Republic of China for Turkmenistan as a grant;
As the Ashgabat correspondent of Turkmenistan.ru reports, the special decree was signed in accordance with the agreement on the long-term technical economic cooperation between the government of Turkmenistan and the government of the People's Republic of China.