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

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

August 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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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