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State to fill gaps in textile value chain

05
Oct '09
Russia is trying to fill up the gaps in its textile value chain by planning to set up petrochemical and chemical fibre plants by using its vast oil reserves, contracts for which were signed at the fourth textile industry forum in Ivanovo.

Russia imports most of its cotton and manufactures a marginal quantity of chemical fibres in the country. An industrial expert says that the solution lies in processing the oil it produces and manufacturing it into petrochemicals.

He adds by saying that Russia has the oil and countries like China, Japan and India have the know how, so setting up a joint venture in any of the oil producing regions makes tremendous sense, according to him.

The government is not in favour of joint ventures with foreign countries and is trying to manufacture on its own by sending the oil to the Republic of Tatarstan to be later processed into fibres and yarn at Ivanovo. It is all expected to begin in 2010.

Fibre2fashion News Desk - India


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