Uzbekistan, South Korea mull implementation of textile Techno Park project

The delegation of Uzbekistan visited South Korea to discuss the implementation of the project to create a textile Techno Park in the city of Tashkent.

During the visit, the Uzbek delegation held talks with representatives of the Korean Institute of Industrial Technology (KITECH).

The sides exchanged views on the state of implementation of the project for the creation of the textile Techno Park.

The parties agreed that the Korean side will start supplying technological and laboratory equipment, and the Uzbek side will begin customs clearance of the equipment supplied.

It is expected that the installation of the equipment will begin in March 2018. Construction and installation work will be completed by mid-2018 and the Techno Park will be commissioned in September 2018.

The Korean side noted the importance of selecting engineers and technicians (engineers for dyeing, laboratory, mechanical and sewage equipment, safety equipment, etc.) until mid-February 2018 for training in parallel with the installation of the equipment.

Main objective of the techno park construction is introduction of the brand-new South Korean innovations and conduction of joint research works in the sphere of material science, dyeing and finishing production, fabric design as well as development of alternative energy sources.

The project is aimed at development and implementation of international training and research programs as well as exchange of experience to develop textile industry.

Group of buildings with the territory of more than 10,000 square meters is expected to be constructed within the framework of the project. The complex will include experimental-scientific laboratory with the textile machinery, finishing and sewing equipment.

Primary contractor of the project is South-Korean IL Kwan E&C Company. Financing of the project will be provided by the grant funds of the official development assistance program of the Korean government.

The establishment of the Techno Park is expected to raise the Uzbek light industry to a qualitatively new level of development and improve the training system for the sector.

Textile industry of Uzbekistan is considered to be one of the most dynamic and socially important sectors and ranks high among export-oriented industries of the country’s economy. The Uzbek textile industry is mainly focused on cotton, silk and wool.

One of the policy priorities of Uzbekistan, the world’s fifth-largest cotton exporter, is further development of its textile industry. Annually, the country grows about 3.5 million tons of raw cotton, produces 1.1 million tons of cotton fiber.

Uzbekistan takes consistent steps to increase the volume of cotton fiber processing. In particular, it is planned to create 112 modern, high-tech industrial factories, expand, modernize and technologically upgrade 20 operating capacities. All this will increase the export potential of the industry up to $2.5 billion a year and create more than 25,000 jobs.

In the period 2010-2014, the textile industry of Uzbekistan received and spent foreign investments worth $785 million while 147 new textile enterprises with participation of investors from Germany, Switzerland, Japan, South Korea, the U.S., Turkey and other countries were commissioned. Export potential of these enterprises amounted to $670 millions.

Currently, Uzbekistan continues to attract foreign investments for construction of textile enterprises in the country.

Source: www.azernews.az