Turkey Opens the first fiber factory in Uzbekistan
Source: CCPIT TEX Date: 2006-03-22
Turkish investors established the first fiber factory in Uzbekistan, which produces a first quality cotton. The fiber factory established by Sayhantour Company’s owner Fuat Em in Fergana Province was opened with participation of top level administrators.
The factory has the most recent technology in the region. Fergana Deputy Governor Ilhamcan Bahriyarov said he is very happy to see this kind of a factory in his town and added this will contribute to the economic advancement of the local people in the first place.
Establishing the factory Em said, which employs 300 people at the moment, will employ 2,000 people when other facilities start to operate and become a modern factory in the region.
The fiber factory is an investment of USD 3.5 mln and has a capacity to produce 4,000 tons of fiber. The factory will export most of its products and sell only 15 percent in the domestic market.
Even if it was just recently opened the factory has already received orders equal to USD 4 mln. Em said they are looking for bigger investment opportunities in Uzbekistan.
The Turkish businessman said their investments in Uzbekistan reached USD 15 mln with this latest investment and added this factory is the forth factory they have in the textile sector in Uzbekistan. Em also noted they aim to create 4,000 jobs opportunities with new facilities and added they meet their investments with their equities.
