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Uzbek-German textile JV phase 1 becomes operational
04
Sep '13
The phase one of Uzbek-German textile joint venture (JV) ‘Djizak Plasteks’ in the city of Djizak in Uzbekistan has been completed and operations have begun at the enterprise.
 
With the completion of first stage, the textile enterprise now has the capacity to process 12,000 tons of cotton fiber and produce 8.5 million tons of yarn as well as 4,000 tons of knitted fabrics per year, reports Uzbekistan national news agency UZA.
 
Phase 1 of the Uzbek-German JV required a financing of US$ 27.3 million of which US$ 21 million was acquired through bank loans and US$ 6.3 million was provided through foreign investment.
 
The first stage of the textile JV has provided direct employment to around 370 people in the region. 
 
The second phase of the project is expected to be completed by the end of 2014, and is estimated to produce 6 million units of finished garments, as well as process and dye 4 million tons of fabric annually.
 
On completion, the second stage is expected to create an additional 600 direct jobs in the Djizak province.
 
The JV ‘Djizak Plasteks’ was established in 2011, by Uzbek firm Tarleplast and German firm Shloster GmbH. 
 

Fibre2fashion News Desk - India

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