DUSHANBE
, March 20, Asia-Plus – An official construction of the Tajik-Turkish Joint Venture “Brusel Dushanbe Textiles” is commencing in
Dushanbe
today.
According to information from the Ministry of Economy and Trade, the joint venture will be built in the place of former “Tojiksnabsbyt” at the
Zebunniso Street
, eastern part of
Dushanbe
. The new enterprise will occupy a territory of 12 hectares.
As it had been reported earlier,
Tajikistan
’s Ministry of Economy and Trade (MET) and Turkish Company “Brusel-Holding” on February 13 signed a memorandum of understanding (MoU) on mutual cooperation and came to an agreement on launching a joint venture in
Dushanbe
on production of textiles. The JV “Brusel Dushanbe Textiles” will include spinning, knitting, appertaining to dyes and sewing production. The JOV is planned to be constructed in 18 months after its official registration.
The estimated budget for launching this joint venture is US$74 million,” the source said, noting that funds for these purposes have been provided by one international organization. But he refrained from giving the organization’s name. The Turkish construction company “Brusel Insaat ve Makine Sanayi Tigeret A. S” will construct this joint venture.
According to the source, initial capital of the joint venture will exceed US$22 million and the parties will share equal contributions – US$11 million each. “
Tajikistan
’s share to the initial capital will be in a form of providing the enterprise with cotton fiber (in the first year of operation, the enterprise will require 8,025 tons of cotton fiber),” the MET source said.
Capacities of the future joint venture will include processing of 8,025 tons of cotton fiber, 6,663 tons of yarn, 6,500 tons of linen and 6,026 tons of dyed linen. Besides, the enterprise will create up to 4,000 new jobs.
We will recall that on January 19-21 President Emomali Rahmonov was on his three-day visit to
Turkey
, where he met with
Turkey
’s President Ahmet Necdet Sezer, Prime Minister Rejep Tayyip Erdogan, and parliamentary speaker Bulent Arinc to discuss bilateral ties and Turkish investment in
Tajikistan
. In an address to Turkish businessmen on January 20 the Tajik president invited Turkish entrepreneurs to pursue projects in
Tajikistan
.
