Home / Knowledge / News / Textiles / Korean-Uzbek textile JV invests $300,000 for modernization
Korean-Uzbek textile JV invests $300,000 for modernization
16
Jun '14
courtesy: uza.uz/Farhad Abdurasulov
courtesy: uza.uz/Farhad Abdurasulov
Shindong Spinning Termez, the Uzbekistan-South Korean joint venture company engaged in textile production, is investing US$ 300,000 for modernization and installing new equipment, reports Uzbekistan National News Agency uza.uz.
 
Shindong Spinning is one of the three ventures in Uzbekistan’s Surkhan-Daryo region that have investments from South Korea, whose President Park Geun-hye is visiting Uzbekistan on a three-day official visit. The manufacturing cooperation between Uzbekistan and Korea is an important factor in the development of mutually beneficial business relations between the two countries.
 
The cotton produced in Uzbekistan is an important raw material for the country’s light industry, for production of yarn and other finished products that meet international standards.
 
Shindong Spinning, established seven years ago, produced 1,281 tons of yarn valued at 5.592 billion soums last year. Over the years, the number of people employed at the manufacturing unit increased from about 200 to 250.
 
This year, the company is continuing its modernization process, replacing obsolete machinery with modern equipment, and allocated $300,000 this year for the purpose. This is expected to add another 50 jobs, while improving product quality and enhanced energy savings.
 

Fibre2fashion News Desk - India


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search