Indorama to invest US$335 million in creation of a cotton cluster in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- Singapore’s Indorama Corporation will invest US$335 million in investment in the creation of modern cotton and textile production in Uzbekistan.
The Government of Uzbekistan issued a resolution “On measures to create modern cotton-textile production by Indorama (Singapore) in the Republic of Uzbekistan”.
According to the document, Indorama will send US$225 million of direct investment in the cultivation of raw cotton, corn, or another crop on the basis of crop rotation in 2019-2023.
Another US$115 million will be invested in the organization of deep processing of raw cotton and the production of cotton yarn during the implementation of the second phase of the project.
The resolution said that the company will receive 50 thousand hectares of land in Kashkadarya and Syrdarya regions. In the second stage, the company will receive land in Ferghana and Jizzakh regions.