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Turkmenistan boosts investment in textile industry
29
Dec '12
Turkmenistan has considerably raised its investment in textile industry since it became an independent country in 1991.
 
According to official reports, the country spent over US$ 1.65 billion for reforming and upgrading the existing textile units during the years since independence. Of which, about 18 percent or US$ 300 million came as foreign investment.
 
As per the reports of the state information service Turkmen Dovlet Khabarlary, setting up of the ‘raw material-finished products’ chain in a number of huge industrial premises of emerging textile clusters helped the domestic sector earn a competitive edge over world markets.
 
The report also notes that several large-scale firms were instituted in the country’s textile sector during 2012, according to Trend. 
 
Ruhabat textile complex, a first of its kind enterprise in CIS region, with a production capacity of 20.3 million sq m of gray fabric and 40 million sq m of premium dyed fabric, became operational this month.
 
The state information service noted that the second part of the Abadan cotton mill, one of the biggest pneumo-spinning technology based high-tech textile industries in Central Asia, was also commissioned in 2012. 
 
The US$ 22.7 million facility with European equipment has a capacity to produce 4,872 tons of combed and 275 tons of ring-spun yarn, over 50 percent of which is meant for exports.
 
Meanwhile, construction of a new cotton mill in Sadie city in Lebap started in summer this year. The facility would have a capacity to produce 6,000 tons of cotton yarn annually.
 
Plans are also there to revamp and upgrade the defunct Turkmenabat cotton mill to enable production of 4,000 tons of yarn per annum. 
 

Fibre2fashion News Desk - India


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