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Home / Business and Innovation / Uzbekengilsanoat Implements 56 New Projects by 202...

Uzbekengilsanoat Implements 56 New Projects by 2020

It is planned to implement 56 new projects for $ 918 million by 2020, 21 of which with foreign capital.

This was reported by the head of the main department for technical policy and forecasting of the SJSC Uzbekengilsanoat, Dilbar Mukhamedova. According to her, the new capacities will provide creating about 17 thousand jobs.

“This year we launched the fourth phase in the FE Indorama Kokand Textile, which provides the organization of spinning production with an annual design capacity of 12 thousand tons of cotton yarn. The total cost of the project is $ 50 million. Commissioning is scheduled for 2017,” said Dilbar Mukhamedova.

By the end of this year, SJSC Uzbekengilsanoat under the Investment Program plans to implement 33 investment projects worth more than $ 230 million. Their successful completion ensures the creation of more than 2.8 thousand new jobs, the increase of volume of exports, and the level of saturation of the domestic market with high quality textile products. Last year alone, 30 new companies were created in the country. Foreign investment in the sector over the past 10 years amounted to about $ 2 billion. Their annual increase reaches $ 160-200 million. Concerning the geography of exports, it is already more than 50 countries. This year, new products are presented to the markets of Latin America, Africa and the United States.

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