NEWS: Foundation of textile complex LT Textile International laid .
1 August 2015
- A construction of textile complex LT Textile International with the cost of US$55 million started in Kashkadarya region of Uzbekistan.
A solemn ceremony of laying foundation of the textile complex was held in Fayzobod village of Karshi district.
The plant will be commissioned in November 2016 and it will reach its designed capacity of processing of 20,000 tonnes of cotton fibre and production of 15,000 tonnes of cotton yarn and mixed yarn in the first quarter of 2017.
The Government of Uzbekistan issued a resolution “On measures on organization of modern textile capacities in Karshi district of Kashkadarya region” on 31 October 2014. The Government approved an investment agreement between the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan and LT Textile Cooperatief U.A. (the Netherlands).
In line with the agreement, the European company undertook obligation to invest US$55 million into creation of textile production capacities in 2015-2016 and install modern high technological and energy saving equipment. It will also create specialized service center for maintenance of textile equipment.
LT Textile Cooperatief U.A. will also invest US$5.5 million of own resources to launch production of cotton and mixed fabrics.
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UzDaily.