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UzPahtaSanoat reviews progress of new textile projects
16
Jul '14
UzPahtaSanoat, the Cotton Industry Company of Uzbekistan, held a meeting this month to review the progress of setting up of new textile projects in the country, according to a UzReport article.
 
Commissioning of high-tech and modern industrial facilities, as well as growth and improvement in investment process, is one of the top priorities of the economic program, approved by Uzbek President for 2014.
 
At the meeting, it was noted that a total of 22 textile and light industry projects are to be commissioned at a cost of more than US$ 100 million. Once operational, the new projects are expected to create over 3,600 new jobs.
 
A spinning mill set up by Asrteks started production of carded yarn in the first quarter of 2014.
 
In the first half of 2014, five garment factories in Kashkadarya and 3 apparel units in Jizzakh regions also went into operation.
 
By the end of 2014, a clothing factory in Sardoba and a ginnery in Syrdarya region are expected to become operational, the meeting was told.
 
However, major projects of integrated textile factories that combine spinning, weaving and stitching, are projected to become operational in 2015-16. Most of the planning and preparatory work on these projects has been completed, and all necessary permits have been obtained for construction of these textile units. However, the last step of obtaining loans from commercial banks is yet to be completed.
 
The current problems being faced in setting up of new textile units and the measures to resolve them were also discussed at the meeting, which was attended by officials from several ministries, the State Competition Committee, O'zbekYengilSanoat, commercial banks, HlopkoProm Board, companies involved in implementation of the projects, as well as potential investors and members of the projecting and construction companies.
 

Fibre2fashion News Desk - India

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