Two prominent companies from Uzbekistan have announced their joint venture to construct a state-of-the-art textile factory in Kyrgyzstan. Citing reliable sources, Economist.kg reports that the Administration of Jalal-Abad region has confirmed this significant investment initiative.
Under the tripartite investment agreement, Art Soft Holding and Sassa Group, renowned Uzbekistani enterprises, will spearhead the establishment of the textile factory. The Plenipotentiary Representative of the President of Kyrgyzstan in the region, Absattar Syrgabayev, sealed the agreement, paving the way for the commencement of this ambitious project.
Spanning an expansive area of 20 hectares, construction of the factory is scheduled to commence in December of this year, with completion anticipated by the end of 2024. With an estimated cost of $31 mn, the project holds tremendous potential for economic growth and job creation, as it is projected to generate over 1,000 employment opportunities.
The envisioned textile factory aims to specialize in the production of high-quality cotton fabrics, along with a diverse range of finished textile products. By leveraging the expertise and resources of the collaborating Uzbekistani companies, the venture aspires to contribute significantly to the development and expansion of the textile sector in Kyrgyzstan.
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