The document is aimed at further increasing production of high quality competitive silk products, effective use of existing premises, as well as creation of new jobs.

The Government agreed with the proposals of Kashkadarya regional administration on realization of buildings and establishments of liquidated Qarshi 16-son Avtobus Saroyi (Karshi Bus Station No. 16), which was in balance of Qarshi city to joint venture Radiant Silk to create modern silk complex.

The resolution said that within the project Radiant Silk undertook obligation to invest at least US$3 million to the project in 2012-2014.

In particular, the company will invest US$1.8 million in the first phase (up to 1 January 2014) and US$1.2 million in the second phase (up to 1 January 2015).

In 2013, the venture will launch capacities on processing raw silk with the capacity of 120 tonnes a year. In 2014, the joint venture will commission capacities on production of 500,000 meters of fabrics a year.

Radiant Silk will export at least 80% of its products and create 200 new jobs, the resolution of the government said.

The Government entrusted State Property Committee of Uzbekistan and Kashkadarya regional administration to realize property of Qarshi 16-son Avtobus Saroyi to Radiant Silk on zero redemption price. However, the property will be handed over to Radiant Silk after it fully implements its investment obligations.