Home / Knowledge / News / Textiles / Textile industry platform inks low-price energy deal
Textile industry platform inks low-price energy deal
07
Jul '10
A common platform, ITKIBOSAP, has been established, for industrialists, to buy raw materials and energy at a more economical price. For the same, ITKIBOSAP has inked a deal with Turkish energy firm, Aksa, early this week in Istanbul, to purchase $400 million worth of electricity.

The Istanbul Textile and Apparel Exporters Union founded ITKIBOSAP, also known as ITKIB and with this new deal, over 4,000 textile manufacturers will be able to conserve about $60 million every year.

As per Osman Tanriverdi, Chairman of ITKIB, availability of electricity at a price lower than that of market, will help boost the competitiveness of the Turkish textile exporters in the international market. Under the deal, members of ITKIB will also attain a discount of 31 percent on purchase of power.

ITKIB currently has about 4,000 firms registered under its name and almost all of these utilise, in the range of, 150 and 240 million kilowatt-hours of power on a monthly basis, informs Tanriverdi.

He also said that, as per the deal, this high amount of usage will cost them about $400 million, annually. With this discount on power, the common platform is intending to save around $60 million annually, thereby, slicing out, the biggest expenditure of Turkish textile manufacturers.

Power that will be provided by Aksa will serve both the Turkish textile manufacturers and huge textile outlets, which pay exorbitant prices for utilizing power.

Ümit Özüren, Chief of the common platform informed that, for a textile firm, in order to be officially eligible for the certificate of being an independent user of power, from an electricity provider, had to mandatory make use of over 100,000 kilowatt-hours of power per year.

Textile firms, who possess this certificate, could commence using the low-priced electricity provided by Aksa by applying to ITKIB, said Özüren.

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: ABARES

Textiles | On 13th Dec 2017

Australian cotton production to grow 4% in 2017-18: ABARES

Cotton production in Australia is forecast to rise by 4 per cent to...

Global economy now growing by about 3%: UN

Textiles | On 13th Dec 2017

Global economy now growing by about 3%: UN

There is an upturn in the global economy, and it is now growing by...

Clothing prices rise 3% in November in UK market

Apparel/Garments | On 13th Dec 2017

Clothing prices rise 3% in November in UK market

As post-Brexit referendum currency adjustment continues, prices of...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Liz Manning

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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