Mili-Guliston-textile JV commissioned in Syrdarya
Tashkent, Uzbekistan (UzDaily.com) --
Mili-Guliston-textile, a new joint venture on production of cotton yarn, has been commissioned in Gulistan, Syrdarya region.
The venture, founded with British investors, will process cotton-fiber and export major part of ready products.
The foreign and local investors invested over US$4.5 million to the venture. The venture has capacity to process 2,350 tonnes of cotton a year, UzA reported.
Shavkat Djalilov, director-general of the venture, said the company signed agreement with three Russian enterprises on supply of products. He said that the venture already exported 100 tonnes of yarn.
It is expected that the venture will move to new building of enterprises in 2009 thanks to US$5 million investments.