China State Machinery Industry Construction Group Inc to help to raise $ 300 million for the development of the textile sector in Tajikistan.

“The delegation of Chinese businessmen under the leadership of the trade manager of China Machinery Industry Construction Group Inc Hu Sina met on March 5 with the Minister of Economic Development and Trade of Tajikistan Nematullo Hikmatullozoda. At the meeting, it was noted that the state corporation will assist the enterprise “Shino Tajikistan Kulyab Textile Industry Park” in attracting foreign direct investment for the processing of cotton fiber,” the department said.

This company is located on the territory of the newly formed Kulyab Free Economic Zone. It is expected that investment in this enterprise will be carried out in two stages. At the first stage, financing will be $ 130 million, and at the second - $ 170 million. It is planned to create 5.5 thousand jobs at the enterprise, the annual processing of cotton here will be 35 thousand tons.

“The Qazaq Times”