Baku, Azerbaijan, July 12
By Fikret Dolukhanov – Trend:
Singapore textile company Indorama is planning to invest $225 million in creation of integrated cotton production in Uzbekistan, the company stated.
“Our immediate are investing $225 million in creation of a cotton cluster, where we plan to grow up to 100,000 tons of cotton yearly. It will be processed at our enterprises in Uzbekistan, the number of which we also plan to increase,” company representative Amit Jain said.
He added that the cotton grown here will comply with all international standards and practices, including regulations on working conditions, as the collection will become fully mechanized.
“This will allow us to enter the markets where we are not present yet for certain reasons. This will also enable world brands to use Uzbek cotton, whereas for now there are some limitations in this regard. Now we are in the process of negotiating with the government of Uzbekistan on allocation of land for the cluster,” Jain said.
Singapore's Indorama has been operating in Uzbekistan since 2010. Since then, it has invested over $165 million in its textile projects in the Fergana Valley. In addition, the company is engaged in production of various fertilizers in the republic on the basis of the Kokand superphosphate plant and Ferganaazot plant.
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