Singaporean company to invest US$55m into Uzbekistan’s textile industry
09/06/2010 22:43
Singaporean company to invest US$55m into Uzbekistan’s textile industry
09/06/2010 22:43
Tashkent, Uzbekistan (UzDaily.com) -- Indorama Industry Pte Ltd (Singapore) will invest US$55 million to organization of textile production at the incomplete complex Qoqand Textile Combine.
Indorama Industry Pte Ltd and National Bank for Foreign Economic Activity of Uzbekistan will create joint venture with the charter capital of US$20 million. The share of Singaporean side is 76% and NBU – 24%.
After commission in 2013, Qoqand Textile Combine will process about 16,000-20,000 tonnes of cotton-yarn a year.
It is expected that the enterprise will annually export yarn to textile enterprises at the volume of US$26 million – US$32 million.
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