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China to invest $80 million in textile industry of andijan region

China to invest $80 million in textile industry of andijan region Source: www.chinatexnet.com
Date: 30-11-2013
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Chinese Henan Sine in 2014-2016 will invest $80 million in the textile industry of Andijan region, the company acquired part of the assets of bankrupt Bobur JSC, representative of the State Joint Stock Company Uzbeklegprom said. In the first phase (2014) the investor will create capacity for production of cotton yarn in the amount of 10,000 tons per year, the second phase (2015-2016) - production of 36 million meters of cotton fabric annually. About 80% of production will be exported, the company said. JSC Bobur was commissioned in 1982 and is one of the largest textile companies in Fergana region. Design capacity – 10,000 tons of cotton yarn and 50 million meters of cotton fabric annually. In 2007 the company was declared bankrupt and put up for sale in October. In 2009, Turkish Mimatas Tekstil acquired assets of Bobur with the stated investment of $75 million. However, in early 2011 the company was declared bankrupt again.
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