BAKU, Azerbaijan, March 14. A joint venture between Azerbaijan and Uzbekistan, Textile Horizon LLC, has been granted resident status in the Mingachevir Industrial Park, which is managed by the Economic Zones Development Agency (EZDA) under the Ministry of Economy, EZDA told Trend.
In alignment with this initiative, infrastructure will be
established within the Industrial Park to facilitate the production
of yarn, textiles, and apparel. This initiative will signify the
inception of the inaugural textile aggregation in Azerbaijan.
The Agency highlighted that cutting-edge technologies sourced from
nations including Germany, Switzerland, Spain, and Türkiye will be
integrated into these facilities, boasting an annual output
capacity of 11,600 tons of yarn, 7,300 tons of raw fabric, 6,200
tons of dyed fabric, and 11.8 million garments.
The aggregate capital allocation for the initiative amounts to 153
million manat (equivalent to $90 million), with projections
indicating the generation of upwards of 2,300 sustainable
employment opportunities.
Alongside the domestic market penetration, the products will also
be positioned for international distribution.
The initiative is slated for operational deployment by 2027.
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