Daewoo International said it has decided to take over the state-run Bukharatex as the Central Asian country requested an additional investment to the trading company which has been operating two other cotton mills there. The Korean firm will receive tax breaks and discounts on raw cottons for a certain period of time, it added.

The trading firm said it plans to export cotton thread to be produced at the plant to Europe and Asia and expects its yearly sales to reach at least US$35 million.