“Uzbekipaksanoat” Association and CATHAYA GROUP Launch US$30 Million Project

Tashkent, Uzbekistan (UzDaily.com) — The “Uzbekipaksanoat” Association held negotiations with representatives of the Chinese industrial group CATHAYA GROUP to discuss prospects for cooperation in sericulture, investment attraction, and the implementation of joint projects.

The parties considered a proposal to establish a joint venture for the production of silk fabrics with an investment volume of US$30 million.

The enterprise is expected to create 300 jobs, produce up to 500,000 meters of silk fabric annually, and process 80 tons of cocoons. The production chain will be fully integrated, covering everything from raw material cultivation to the manufacture of finished products. The facility is scheduled to become operational in 2027.

Following the negotiations, CATHAYA GROUP Chairman Zhang Guoqiang and the leadership of the “Uzbekipaksanoat” Association agreed to move forward with the project.

Founded in 1950, CATHAYA GROUP employs over 10,000 people and has an annual turnover exceeding US$1.5 billion.