(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 4. Chairman of
Azersheker's Board, Nasib Islamzada, told Trend that Azerbaijan's
Azersheker LLC and Uzbekistan plan to complete a joint
cotton-textile project by mid-2026.
"Azersheker and Uzbekistan's Global Textile Company will jointly
create the textile cluster. The project spans numerous regions,
with plans to create 2,400 new jobs within its framework. We plan
to collaborate with farmers from Azerbaijani districts that
specialize in this industry, including Yevlakh, Aghjabadi, Imishli,
Fuzuli, and other areas. In the next stage, we plan to establish
plants for primary processing of cotton in Ujar and Agjabadi,” he
said.
The project's economic efficiency was assessed last year, and
cotton processing and cultivation tests were successful, he
said.
He clarified that the plan is to commence construction work for
yarn production within the next three months.
"The total cost of the joint textile cluster project with
Uzbekistan is $104 million. A significant part of these investments
falls on the yarn processing plant and fabric production. The cost
of investments in the yarn processing and fabric production plant
is about $80 million,” Islamzada added.
The board chairman noted that the project's framework calls for
organizing the processing of 40,000 tons of cotton.
He also clarified that Azersheker's internal resources will
supply half of the cotton supply, with the remaining portion coming
from other organizations and farms in the nation.
According to him, the plan is to produce 11,000 tons of yarn,
which will eventually lead to the production of garments.
The company's representative stated that the value chain will
continue to the finished garment, making our nation a more valuable
exporter of textiles rather than just raw materials, and promoting
the sector under more stable conditions.
He also mentioned that the project plans to collaborate with
major European brands and export to the nearest regions.
"Azersheker's investments in the agricultural sector continue,
and by the end of this month, a 1,500-ha farm equipped with modern
irrigation systems will start functioning in Fuzuli, and an
additional 5,400 ha of land is planned to be put into turnover in
2025," added Islamzada.
To note, Azersheker LLC, established in 2017, started producing
various types of agricultural products by investing in agricultural
fields in different regions of Azerbaijan. It plays an important
role in ensuring our country's food security with its agricultural
activities located in Shamkir, Yevlakh, Aghjabedi, Fuzuli, and
Aghdam districts.
Global Textile is one of the leading textile companies in
Uzbekistan, producing the world's best yarn and raw and dyed
knitted fabric. In January 2018, it began producing high-quality
compact yarn. Factories are located near Uzbekistan's largest
transport hubs, Tashkent and Fergana.
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