By Kamila Aliyeva
Turkish company Cotam Enterprises Ltd. will build a textile complex in Turkmenistan.
This follows from the resolution signed by Turkmen President Gurbanguly Berdimuhamedov.
The document authorizes the Ministry of Textile Industry of Turkmenistan to conclude a contract with the company for the construction of a textile complex in the Akhal velayat (region) equipped with modern technologies.
The annual production capacity of the enterprise will be 3,650 tonnes of cotton yarn, 12 million square meters of high-quality fabric for sewing garments, including 10 million square meters of dyed fabric, and 1.2 million pieces of ready-made garments.
The contract also provides for the improvement of the adjacent territory, the training of specialists and the supply of spare parts for technological equipment at the expense of the company within two years after the commissioning of the textile complex.
The document instructed to begin construction work in March 2018. The textile complex is expected to be fully ready for operation in March 2021.
Over 20 textile firms with predominantly Turkish partners currently operate in the country.
Under the State Program for development of the textile industry for 2011-2020, by 2020 the government plans to increase investments in the textile industry to $2 billion. This will include both upgrading existing facilities and building new ones.
The plan calls for increasing the number of employees in the industry from almost 30,000 in 2013 to 36,000 in 2020. This expansion is expected to allow the processing of nearly 230,000 tons of cotton per year and to expand annual export revenues by $350 million.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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