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Chinese firms invest in six Uzbek textile plants
21
Jun '13
Chinese companies are investing in six textile projects in Uzbekistan’s Jizzak special industrial zone.
 
The six projects would together cost US$ 56 million and would become operational by the end of 2015, according to Uzbekistan’s state joint stock company Uzbekyenglisanoat.
 
The Chinese firms that are investing in the textile projects are Nang Yang Mulanhu, Henan Sine, Pinmian Co. Ltd., and Hebey An Feng Da Group, UzDaily reported.
 
The six textile mills would together have an annual capacity to produce up to 30 million sq m of cotton fabric, 13,000 tons of knitted fabric, and 15 million pieces of readymade garments.
 
About 80 percent of the goods produced at the new textile and apparel factories are likely to be exported.
 
The new Jizzak industrial zone is being set up in the Jizzakh region of Uzbekistan, under a decree singed by President Islam Karimov on March 18 this year.
 
The special industrial zone was established to create favourable conditions for attracting domestic and foreign investment for production of latest high-tech industrial products, while effectively using the resource potential of Jizzakh and Syrdarya regions.
 
Textile units that are to be set up in Jizzak industrial zone would enjoy special benefits in tax and customs duty for a period of three to seven years. The units operating in the zone would be exempted from payment of customs duties on import of materials, equipment and spare parts, which are not produced in Uzbekistan. They would also be exempted from paying income, property and other taxes.
 
The Jizzak industrial zone is the third special zone to be set up in Uzbekistan, after Navoi zone in 2008, and Angren zone in 2012.
 

Fibre2fashion News Desk - India


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