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Economy 12/08/2011 Uzbekyengilsanoat to complete implementation of 11 investment projects
Uzbekyengilsanoat to complete implementation of 11 investment projects
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekyengilsanoat state joint stock company (Uzbek Light Industry) will complete implementation of 11 investment projects for total sum of US$56.4 million by the beginning of 2011.

According to Uzbekyengilsanoat, eleven investment projects are implemented in Namangan, Jizzakh, Samarkand, Ferghana, Khorem regions and in Tashkent city.

The volume of production at these objects makes up 17,200 tonnes of yarn, 7 million units of knitted goods, 5.2 million units of hosiery products, as well as 0.2 million square meters of silk fabrics, UzA reported.

The largest project is launch of textile production complex Indorama Kokand Textile on the base of Qoqand Textile Combine.

In near future, the enterprise will launch the first stage of capacity on processing cotton-fiber with the capacity of 9,000 tonnes 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.

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