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2007-2-1
Hong Kong based Super Times Holding Company and Uzbekistan light Corporation has set up a joint venture in textile industry in Wujizhake state.
The new company Super Times Capital is US $18.3 million with an annual production of 4,000 tons of cotton yarn. It will begin to produce cotton cloth and garment in the second half of 2007.
During 1995-2006, a total of 60 joint ventures took place in Uzbekistan, mainly from Japan, Germany, Korea, China, Turkey and the United Kingdom.
The 3-year investment plan of Uzbekistan light Corporation approved by the Government early in 2005. If a total investment of $1.22 billion is implemented, the company will achieve an export value of $1 billion.
Fibre2fashion News Desk - China
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