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Uzbekistan to invest in textile machinery production
09
Apr '12
The Government of Uzbekistan would invest approximately US$ 20 million during the next three years to set up joint venture plants for the production of textile machinery, according to a report by the Uzbekyengilsanoat (Uzbek light industry).

The report said Uzbekyengilsanoat has developed a programme to set up plants in collaboration with foreign entrepreneurs for manufacturing of spinning and weaving equipment as well as other textile machineries in a phased manner.

In the second quarter of 2012, IP Rieter Uzbekistan, created by Swiss Maschinenfabrik Rieter AG and the liquidated Uzbektekstilmash, will put into operation its tape and carding machines production unit in Tashkent.

The new unit will have production capacity of up to 200 units per year and US$ 3.8 million worth of investments have already been made for setting up the plant.

By the end of 2013, TMS Korea Co will begin production of hosiery machines in Kokand in Ferghana region. The unit will have production capacity of 100 machines per year and will involve a cost of US$ 3.5 million.

Another company, Maschinenfabrik Rieter, has plans lined up to begin manufacturing of spinning machines by 2015. It includes setting up additional production units in Uzbekistan.

German Terrot has plans to begin production of knitting equipment within the next two years in Tashkent. The project will involve a cost of US$ 2 million and will have capacity to produce 50 units of machines per annum.

Uzbekyengilsanoat has also entered into a joint venture agreement with the Japanese Toyota Tsusho Co for assembly of spinning and weaving equipment in Uzbekistan. The project will involve an investment of US$ 5 million and will have a capacity to assemble up to 100 units of machines each year.

Currently, the Uzbek textile industry has the capacity to process 400,000 tons of cotton fibre, spin 300,000 tons of cotton yarn and produce 150.4 million sq m of cotton fabric.

By 2015, a total of 55 textile projects are expected to come up in Uzbekistan, which would together attract an investment of about US$ 1.7 billion. On completion of these projects, Uzbekistan's capacity to process cotton fibre would increase from the current 33 percent of the total production to about 70 percent.

Fibre2fashion News Desk - India


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