The second stage of Singapore's Indorama Industry’s textile production has become operational in the Ferghana region of Uzbekistan. After the second phase worth $31 million was commissioned, the cotton fibre processing enterprise's capacity increased by 5,000 tons to 15,000 tons. The project was financed through a direct investment worth $25 million by the Singapore-based company and by loans from foreign banks involved in project financing. Swiss company Rieter supplied equipment to the textile complex. The project implementation ensured increased capacity of processing cotton fibre up to 10,000 tons per year.
Indorama Kokand Textail joint venture was established with a capital of $20 million, where Indorama has a 75 per cent stake, the National Bank for Foreign Economic Activity, a 25 per cent.
Uzbekistan is the sixth world producer and the third largest exporter of cotton fibre. An average of 3.5-3.7 million tons of raw cotton is harvested and 1-1.2 million tons of cotton fibre produced in the country annually. More than 75 per cent of cotton fibre is exported.
