DUSHANBE, February 15, Asia-Plus – Closed joint-stock company (CJSC) Olimi Karimzod M, one of Tajikistan’s futures companies, is seeking co-investor to construct spinning mill Alim Textiles in the northern district of Mastchoh.
According to the Olimi Karimzod M headquarters in Dushanbe, the company is currently seeking investments or loan to construct the enterprise. The source said that it is possible that the Eurasian Development Bank (EDB) will invest in the construction of the spinning mill in Mastchoh.
“The project for the construction of the enterprises has already worked out and sent for consideration to the bank,” said the source, “The enterprise is planned to work on local raw materials.” According to the source, Swiss company Rieter will deliver equipment for the future spinning mill.
The source added that if the investment issue is resolved positively, Olimi Karimzod M will consider the possibility of creating textiles factory to process the produced yarn into manufactured goods. “The factory will probably be a joint venture with participation of the Kazakh investors,” the source said, noting that negotiations with the Kazakh side are under way.
As it had been reported earlier, the Dushanbe company HIMA intends to construct textile factory HIMA Textiles and the Khujand company Khujand-Invest-Cotton plans to construct textile factory in Zafarobod. In all, seven new textiles enterprises are expected to be constructed in Tajikistan by 2015.
Under the national light industry development plan, it is planned that by 2015 the whole volume of cotton produced in Tajikistan will be processed into manufactured goods inside the country. At present only some 20 percent of the cotton Tajikistan produces is processed into manufactured goods in the republic, while the remainder is exported for manufactured outside the country.
Founded in 1995, Olimi Karimzod M in engaged in investing cotton-growing farms in Mastchoh and Zafarobod districts in Sughd and the Hamadoni district in Khatlon.
