Baku, Azerbaijan, Aug. 27
Trend:
Singapore’s Indorama Corporation Pte. Ltd. will invest $335 million in the establishment of up-to-date cotton and textile production in Uzbekistan.
The government of Uzbekistan has issued a resolution “On measures for establishment of an up-to-date cotton and textile production by Indorama Corporation Pte. Ltd. (Singapore) in the Republic of Uzbekistan”.
In 2019-2023, Indorama will allocate $225 million of direct investment in the cultivation of raw cotton, corn or other crops on the basis of crop rotation, the document reads.
Another $115 million will be invested in the organization of deep processing of raw cotton and production of cotton yarn during the second phase of the project.
The corporation will receive 50,000 hectares of land in Kashkadarya and Syrdarya regions, the resolution reads. The corporation will receive land in the Fergana and Jizzakh regions in the second phase of the project.
