As reported earlier, Indorama Kokand Textile JV is founded on the base of Qoqand Textile Combine.

Indorama Kokand Textile is completing final preparation works for commissioning of the capacities, which will take place within few days.

The venture created modern laboratory, which will inspect raw materials and quality of products. The company created its own energy unit. The enterprise will produce goods in three shifts.

In line with the general project, the enterprise will reach its designed capacity by the end of 2013 and it will create 550 new jobs. Annually, the venture will export goods for about US$32 million.

In the first stage, the joint venture will process 9,000 tonnes of cotton-fibre a year. By the end of 2013, the joint venture will process about 16,000-20,000 tonnes of cotton-fibre a year.

Uzbek-Singaporean joint venture Indorama Kokand Textile was founded in July 2011. Founders are Indorama Industry and National Bank of Uzbekistan for Foreign Economic Activity (NBU).

The charter capital of the venture is US$18 million. Singaporean company owns 76% in the venture, while NBU holds 24% stake.

Earlier, Indorama Industry bought property of Qoqand Textile Combine and undertook obligation to invest at least US$55 million in 2010-2013.