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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.