Turkish textile firm Cotam Enterprises has inked an agreement with the Turkmenistan Ministry of Textile and Industry to set up a new textile complex in the country as part of plans to increase investment in the sector.
The textile complex, which will produce cotton yarn, high-quality fabrics and sewn products for the garment industry, is expected to be operational by March 2021. It will be developed in Turkmenistan’s Akhal Velayat region and will be equipped with the most advanced textile manufacturing technologies.
The facility is expected to produce 3,650 tonnes of cotton yarn, 12m sq metres of high-quality fabrics, 10m sq metres of dyed fabrics and 1.2m of sewn products annually.
“The construction project envisages the improvement of the territory adjacent to the complex, the construction of the outer run utility lines, training of specialists, and the supply of spare parts for the technological equipment to be installed at the complex within two years after putting the facility into operation,” Cotam and the Ministry have said.
Construction of the complex will kick off from the next month and is part of the Government’s plans to increase investment in the country’s textile industry to US$2bn by 2020.
Reports suggest the addition of the new textile plant will increase the annual export earnings of the country by US$350m and enable the processing of around 230,000 tonnes of cotton per annum.
