A Chinese state-owned corporation has committed to help raise US$300m to build of a new textile park in Tajikistan.
A delegation from the China Machinery Industry Construction Group has met with Tajikistan’s minister of economic development and trade, Nematullo Hikmatullozoda, and agreed to help attract foreign direct investment to the Shino Tajikistan Kulyab Textile Industry Park, which will be located at the new Kulyab Free Economic Zone.
Tajikistan’s Ministry of Economic Development and Trade said it was expecting investment in the park, which will process cotton fibre, to occur in two stages: the first stage would be US$130m and the second $170m.
It would result in 5,500 jobs and an annual cotton processing output of 35,000 tons.
During the first eight months of the fiscal 2018-19 period, Tajikistan reported a 30% jump in textile and clothing production with textile exports rising 92% from the prior year to US$149m.