A spinning factory of Alliance Trade and Industrial Company, a joint venture of Kazakhstan Investment Fund JSC and the Alliance Textile Uzbek Association of Light Industry Enterprises, was inaugurated recently in Shymkent in Kazakhstan. The unit was set up as part of an agreement signed last June between the two sides to create a joint textile cluster.
The agreement was signed on June 22 at the XVIII meeting of the Joint Intergovernmental Commission on Cooperation between Kazakhstan and Uzbekistan, according to information on the official website of the Kazakh prime minister.
In the first stage, the enterprise has created 120 new jobs. The factory’s volume of cotton fibre processing will be 6,000 tonnes per year.
Investments of the Uzbek side in the project are about KZT4.6 billion. Two more such factories will be launched. In all, the factories will ensure a two-fold increase in cotton consumption and will create 800 new jobs.