Uzbekistan to invest US$626m into textile sector

The programmes, was approved by the presidential decree, includes 55 projects on modernization and re-equipment of enterprises of the industry. The projects will be financed due to foreign investments and loans for US$202.3 million, loans of the Uzbek banks – US$313.1 million and own resources of the enterprises – US$110.8 million.

Swiss capital will invest US$94 million into three textile projects in Uzbekistan. LTA Textile Cooperatief U.A of the Netherlands will launch a textile complex with the cost of US$55 million in 2016. Singapore’s Indorama Industries will expand spinning production worth US$50 million.

Implementation of the programme will allow to increase production of cotton yarn up to 474,500 tonnes (1.4 times compared to 2015), cotton fabrics – up to 445.2 million square meters (1.64 times), knitting yarn – up to 91,100 tonnes (1.7 times), garment and knitwear products – up to 408 million units (1.62 times) and hosiery products – 72.2 million (1.8 times).