Home / Knowledge / News / Textiles / Korean firm to set up textile mill in Uzbekistan
Korean firm to set up textile mill in Uzbekistan
24
May '11
South Korea's Textile Technologies Group has announced setting up of a modern textile mill to produce yarn, fabric and garments in Yukori Chirchik district of Tashkent region in Uzbekistan.

Textile Technologies will invest US$ 50 million in 2011-12 to set up the textile mill. This amount is in addition to the cost of 683 million sums (1,711 Uzbekistani sums equals one US dollar) payable to the Uzbek Government for acquiring land.

The Uzbekistan Government has already given permission to Textile Technologies Group for setting up of a modern textile mill with a capacity to process up to 8,000 tons of cotton fibre a year.

The investment of US$ 50 million is going to be made in two parts. US$ 30 million will be invested in 2011 itself, while the remaining US$ 20 million will be invested in 2012. This includes funds needed for installation of latest technological equipments sourced from across the world.

By 2013, the new mill is expected to produce 6,000 tons of cotton yarn, 7.5 million sq. m. of finished fabric and 5 million garments a year. Textile Technologies expects to export around 80 percent of this output.

This project is being undertaken as a part of the Uzbekistan Government's textile industry development programme for 2010-15, under which over 100 projects are to be implemented at a total cost of US$ 1.6 billion to triple the export potential of the Uzbek textile industry.

Fibre2fashion News Desk - India


Must ReadView All

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

India’s GDP expected to grow by 7.7% in Q1 2018: Report

Textiles | On 21st May 2018

India’s GDP expected to grow by 7.7% in Q1 2018: Report

India’s gross domestic product (GDP) is expected to grow at the rate...

Courtesy: OmniBloq

Textiles | On 21st May 2018

Bolger & O’Hearn to display OmniBloq DWR at Techtextil

Bolger & O’Hearn, a leading specialty chemical company, will showcase ...

Interviews View All

Top executives
Textile industry

It will take some time for the people to change their buying choices

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search