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Kazakhstan:Textile cluster to build up in Southern Kazakhstan |
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2004-10-21
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Shymkent President Nursultan Nazarbayev visited Yutex JSC, as a part of his working visit to one of the resumed enterprises of Southern Kazakhstan.
A year ago, the top management of Yutex proposed the recreation project of the enterprise on the base of the idle cotton yarn producing enterprise. The Development Bank of Kazakhstan having considered it recognized it perspective.
The main argument in making decision was that Southern Kazakhstan is the only cotton-growing region in the country.
The total cost of the project amounted to $19.3 million, of which 13 million credits came from Kazakhstan’s Development Bank on 10 years term and $6.3 million are the investments of the company Intrex Worldwide Ltd from Great Britain. It is one of the system-forming enterprises for creation of the textile cluster in Kazakhstan.
With the participation of Kazakhstan’s Development Bank in setting-up of the cluster production, the board of the bank approved the project of Kazakhstan’s largest textile production of ready fabrics with use of local cotton raw including that produced by Yutex.
The plant has been constructed with participation of English textilemen and is equipped with Swiss technique.
President of the Development Bank of Kazakhstan, Kambar Shalgimbayev said with launch of the new manufacture competitive production would be supplied to the countries of European Union, and Russian Federation.
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