South Korea’s Textile Technologies Group has announced setting up of a modern textile mill to produce yarn, fabric and garments in Yukori Chirchik district of Tashkent region in Uzbekistan.
Textile Technologies will invest US$ 50 million in 2011-12 to set up the textile mill. This amount is in addition to the cost of 683 million sums (1,711 Uzbekistani sums equals one US dollar) payable to the Uzbek Government for acquiring land.
The Uzbekistan Government has already given permission to Textile Technologies Group for setting up of a modern textile mill with a capacity to process up to 8,000 tons of cotton fibre a year.
The investment of US$ 50 million is going to be made in two parts. US$ 30 million will be invested in 2011 itself, while the remaining US$ 20 million will be invested in 2012. This includes funds needed for installation of latest technological equipments sourced from across the world.
By 2013, the new mill is expected to produce 6,000 tons of cotton yarn, 7.5 million sq. m. of finished fabric and 5 million garments a year. Textile Technologies expects to export around 80 percent of this output.
This project is being undertaken as a part of the Uzbekistan Government’s textile industry development programme for 2010-15, under which over 100 projects are to be implemented at a total cost of US$ 1.6 billion to triple the export potential of the Uzbek textile industry.
Showing posts with label cotton textile leather. Show all posts
Showing posts with label cotton textile leather. Show all posts
Tuesday, 24 May 2011
Thursday, 19 May 2011
Uzbekistan can offer electricity to Pakistan
Delegation of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) recently had a meeting with Ambassador of Uzbekistan, Oybek Arif Usmanov.
During the meeting, the ambassador said that Uzbekistan is willing to provide electricity to Pakistan via Peshawar on very reasonable rates, Uzreport.com reported.
This will help Pakistan in seeking access to surplus Central Asian electricity to overcome energy shortages, the report said. Uzbekistan also called on Pakistan to further enhance exchange of business delegation and increased cooperation in sectors like textiles, leather, cotton, pharmaceutical and agriculture.
At the same meeting, head of FPCCI delegation Raza Khan hailed the Uzbek reform process and said that the country should offer electricity on most affordable rates so that the economy can be bailed out without burdening other sectors.
He said that policy makers of both countries should pay emphasis on cargo transportation, transit, telecom, IT and public health engineering sectors.
During the meeting, the ambassador said that Uzbekistan is willing to provide electricity to Pakistan via Peshawar on very reasonable rates, Uzreport.com reported.
This will help Pakistan in seeking access to surplus Central Asian electricity to overcome energy shortages, the report said. Uzbekistan also called on Pakistan to further enhance exchange of business delegation and increased cooperation in sectors like textiles, leather, cotton, pharmaceutical and agriculture.
At the same meeting, head of FPCCI delegation Raza Khan hailed the Uzbek reform process and said that the country should offer electricity on most affordable rates so that the economy can be bailed out without burdening other sectors.
He said that policy makers of both countries should pay emphasis on cargo transportation, transit, telecom, IT and public health engineering sectors.
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