Agreements on six textile projects to be signed in Tashkent

Three-day event was organized by Uzbekyengilsanoat, Ministry of Foreign Affairs, United Nations Industrial Development Organization (UNIDO) and Reiter AG (Switzerland).

The forum will become important event and this year it is attended by 40 high-level officials of eight countries, including from Switzerland, Italy, Republic of Korea, Turkey, India and other countries.

The forum will discuss perspectives of expanding mutual beneficial and long-term cooperation in textile industry. Representatives of UNIDO, Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan, Uzbekyengilsanoat, National Bank of Uzbekistan, Rieter AG and others will deliver reports.

Textile forum will allow foreign businesses to familiarize with investment potential of the light industry of Uzbekistan, the organizers said.

The forum will allow its participants to discuss implementation of projects and perspective investment proposals.

At the end of the forum, it is planned to sign agreements on implementation of six projects for US$55.2 million.

In particular, it is planned to sign an agreement with Singapore’s Indorama on implementation of the third stage of the project on production of cotton yarn in Qoqand with the cost of US$20 million.

An agreement on implementation of the second stage of the project on production of textile equipment with the cost of US$1 million will be signed with Swiss company Reiter AG.

Syria’s United Dabbag Group will sign an agreement on implementation of the project on production of ready fabrics. The project cost is US$5 million. It will be located in Tashkent city.

Italian Orizio will ink a contract on creation of enterprise on production of equipment for stockinet production. The enterprises will be located in Jizzakh region and its cost is US$1 million.

At the end of the forum, it is planned to sign an agreement on implementation of the second stage of the project on yarn production at Shovot Tex with the cost of US$28 million.

Italy’s Savio will sign an agreement on creation of service center for equipment, installed at textile companies in Uzbekistan. The project cost is US$200,000.