New enterprise for production of blended textile products to be launched in Namangan region

President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On additional measures to diversify the raw material base of the textile industry” on 6 October 2017.

According to the document, the cost of the project is US$92 million. The project was initiated by the joint venture Namangan Sharbati, the National Bank for Foreign Economic Affairs of Uzbekistan and Uzbekengilsanoat.

The new enterprise will be commissioned in 2018. The enterprise will annually produce 10,000 tonnes of polyester fiber, 10,000 tonnes of polyester yarn, 20 million running meters of mixed fabrics, 7,000 tonnes of blended linen, and 6 million ready-mixed textile products.

The project will be financed from own funds of Namangan Sharbati for US$30 million and a loan from the Fund for Reconstruction and Development of Uzbekistan for US$62 million.

The President of Uzbekistan granted a number of tax and customs preferences to Namangan sharbati within this project.