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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


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