DUSHANBE, June 26, Asia-Plus — Russia’s Textile Holding intends to remove it from the Tajik-Russian joint venture Eurasia Textile, Asia-Plus has learned from Mirzo Mousoyev, director of the spinning mill Eurasia Textile.
According to him, the JV Eurasia Textile was established in 2003 and has successfully operated since that time. “The Russia side justifies its intention to remove it from the joint venture by saying that work in Tajikistan has become unprofitable,” said Mousoyev, “Negotiations with Russia’s Textile Holding are continuing and the issue should be resolved at a meeting of the board of directors of the Russian company in the near future.”
He further added that if the Russian company removes it from the venture, the spinning mill will continue its work and probably, it will become independent.
According to Mousoyev, the capacity of the spinning mill Eurasia Textile produces is 600,000-700,000 meters of fabric per month.
The joint venture was established on the basis of joint-stock company Textile, and the sides assume equal ownership interest in the venture — 50 percent each.
