Baku, Azerbaijan, Aug. 2
By Leman Zeynalova - Trend:
A plant for production of artificial fibers is under construction in the Turkestan region of Kazakhstan, said a message from the local government of Turkestan.
To date the first phase of the investment project has been launched. The construction started in 2016 within framework of the first phase employing 60 people.
The investment cost of the project is $20 million. The plant is expected to produce 50,000 tons of fiber. The volume of the production will fully meet the needs of Kazakhstan in artificial fiber.
Artificial fiber is a multi-purpose material that can be used in virtually all industries.
Current project is implemented in the framework of the Memorandum of Cooperation, signed during the international investment forum Ontustik Invest-2016. Construction of the plant is carried out jointly with HONGKONG TIANRUN CO.LTD, regional government and large industrial company Green Technology Industries.
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