BAKU, Azerbaijan, September 25. The total cost of the joint textile cluster project with Uzbekistan is $104 million, the chairman of Azersheker LLC Nasib Islamzada told Trend.
“A significant part of these investments falls on the yarn processing plant and fabric production. The cost of investments in the yarn processing and fabric production plant is about $80 million, and the start of processing is scheduled for mid-2026,” he emphasized.
Islamzada noted that Azersheker's investments in the agricultural sector continue, and by the end of this month, a 1,500-ha farm equipped with modern irrigation systems will start functioning in Fuzuli, and an additional 5,400 ha of land is planned to be put into turnover in 2025.
“Within the framework of the project, it is planned to organize the processing of 40,000 tons of cotton. Half of the cotton supply will be provided by the internal resources of Azersheker, and the remaining part through other organizations and farms in the country. As a result, it is planned to produce 11,000 tons of yarn, and this process will eventually reach garment production. It is planned that the value chain will continue to the finished garment, making our country a more valuable exporter of textiles, not just raw materials, and promoting the sector under more stable conditions. Within the framework of the project, it is planned to cooperate with major European brands and export to the nearest regions,” he added.
According to the chairman of the board of the LLC, the company plans to utilize the most modern technologies and technical solutions most suitable to climatic conditions and soil structure. Besides, Azersheker has already budgeted the cost of equipment, combines, and tractors for the project, and it is planned to start procurement operations.
To note, an Uzbek-Azerbaijani business forum was held in Tashkent on August 22. Following the talks, a portfolio of projects worth $2 billion was formed.
Moreover, on August 23, within the framework of President Ilham Aliyev's visit to Tashkent, the heads of state met with representatives of business circles of the two countries. Following the results of the meeting, seven projects worth $520 million were prepared for launch.