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Velvet factory set up in Akhal Province
25
Oct '08
A new textile factory located in Ruhabat district of Akhal province was inaugurated by Turkmen President, Gurbanguly Berdimuhamedov, recently.

Reportedly, this factory will produce one million meters of printed and painted silk velvet in all varied colors annually. This amount is expected to satisfy not only domestic but also export demand.

This unit is a project is a part of intergovernmental agreements between Turkmenistan and the People's Republic of China.

While the factory was built by Turkish company '5M Insaat Tekstil Ithalat Sanayi Ticaret LTD Sti', the equipment and machinery has been supplied by Chinese company named 'Jum Shui'.

Of the total investment of US $28.75 million, $12.6 million were provided by the oil and gas complex of Turkmenistan and rest came from the Chinese counterparts.

It is believed that this factory will open job opportunities for over 550 people.

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