BAKU, Azerbaijan, April 12
By Jeila Aliyeva - Trend:
The cotton spinning factory, located in Turkmenabat city of Turkmenistan produced about 800 tons of yarn in the first quarter of this year, Trend reports with reference to Business Turkmenistan information portal.
More than 70 percent of the manufactured products were exported to countries such as Turkey, Poland, Russia and the UAE.
The Turkmenabat cotton spinning factory is designed for the annual production of 4,500 tons of high-quality yarn.
As reported, Turkmenistan plans to purchase 145,557 tons of cotton fiber, 8,500 tons of fine fiber, 200 tons of short-fiber cotton, and 200 tons of cotton wool in 2021.
Turkmenistan plans to allocate more than $300 million for the implementation of over 30 projects in the textile industry by 2025.
Due to the above-mentioned investments, the manufacture of commercial products will grow 1.2 times in Turkmenistan over these years. Also, the implementation of the planned measures will allow the textile industry of Turkmenistan to carry out constant technical and technological re-equipment of existing and creation of new high-tech industries.
Major investments will be directed not only to expanding existing capacities but also to creating more than 10 new production facilities based on existing enterprises that use modern technologies for the manufacture of environmentally friendly products.
In general, over the years of independence, about $2 billion was invested in the construction of new and reconstruction of existing textile enterprises.
There are more than 70 enterprises in the industry, including large textile, cotton spinning, and weaving industries, clothing factories, silk processing enterprises, shoe factories, factories for primary processing of leather and wool.
Cooperation with foreign companies and international financial institutions that ensure the growth and further development of the textile industry in Turkmenistan. With the participation of foreign companies, 13 modern textile plants were put into operation, where the manufacture of products that meet the most modern requirements of international quality, management, and marketing standards was established.
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