TST Group, a prominent player in the textile industry in Uzbekistan, is set to diversify its operations with the establishment of a subsidiary textile cluster in Azerbaijan, as it was disclosed by the press service of the Uztekstilprom association.
Negotiations between TST Group and representatives of the Agency for Development of Economic Zones of Azerbaijan took place on May 20, during the visit of an Uzbek delegation led by Mirmukhsin Sultanov, the acting Head of Uztekstilprom. The discussions primarily revolved around the realization of previously agreed-upon arrangements to allocate a land plot near Imishli for the construction of the textile cluster.
The agreement reached between the parties entails expediting the process of land allocation in both the Imishli and Mingachevir regions. With an estimated investment volume of $52 mn, the project holds substantial promise for bolstering economic activity and fostering employment opportunities in the region.
The timeline for commencing construction of the textile cluster coincides with the anticipated visit of Azerbaijani President Ilham Aliyev to Uzbekistan.
In addition to the establishment of the textile cluster, discussions during the meeting also delved into plans for joint processing of Azerbaijani cotton, with the aim of exporting finished products to third countries.
TST Group, comprising two enterprises specializing in the production, dyeing, and printing of fabrics, namely Tukimachi Sanoat Textile established in 2009, and Group Impex Textile founded in 2013, brings a wealth of experience and expertise to the venture. The founders of both companies, Abduvoris, Bosit, and Hasan Yuldashev, possess a deep-rooted commitment to driving innovation and excellence in the textile sector.
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