Jinsheng Group to implement textile projects in Kashkadarya and Tashkent regions
Uztextileindustry Association organized a visit of the delegation of the Chinese corporation Jinsheng Group to Uzbekistan.
Jinsheng Group is a group of industrial companies specializing in textile production, mechanical engineering and other industries.
It includes 77 companies and enterprises located in Germany, Switzerland, China and other countries, with a total annual turnover of more than 3 billion dollars.
In 2016-2017, through the allocation of 109 million dollars of foreign direct investment, the Chinese corporation created a high-tech textile complex in Kashkadarya region, which to employ 700 people. This was the first stage of a new project.
Currently, the Chinese corporation Jinsheng Group is implementing the 2nd and 3rd stages of the project on creating a modern textile production in Kashkadarya region for 100 million dollars. Commissioning is planned in the first quarter of 2020, the total production capacity will be 15.0 thousand tons of mixed yarn and 10 million square meters of fabric.
During the visit, the Jinsheng Group delegation held negotiations with the leadership of Uztextileindustry Association, meetings at the khokimiyats of Tashkent and Kashkadarya regions, the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan.
As reported by the Press Service of Uztextileindustry Association, following the negotiations, the managers of the Chinese corporation expressed readiness to work out a new project on creating a cotton-textile cluster in 2019-2022 in Kashkadarya and Tashkent regions on an area of 40 thousand hectares of irrigated land for growing raw cotton and creating an industrial park in Tashkent region with attraction of 300 million dollars of foreign direct investment and creation of more than 1,000 jobs.