Kyrgyzstan's Investment and Development Agency and a Turkish investor, plans to open a new textile factory in 2022 on the basis of the defunct Kara-Balta carpet factory. The relevant news was reported by the press service of the Kyrgyzstan Investment and Development Agency.

The bilateral meeting took place on 3 December and other steps to be taken for the implementation of the project were discussed by the parties. Later, it was stated that the investor went to Kara-Balta and was introduced to the construction of the factory. The project will be implemented by Dekna Bishkek Tekstil with an investment of 25 million dollars. It has been announced that the investor has already invested $400,000 for the construction of the factory.

The agency added that the future venture is unique due to its clustering approach, as it involves virtually waste-free production by processing waste from the finished textile fabric into yarns and other materials for fabrics.

After the commissioning of the first phase, it is planned to expand the activities of the enterprise and create a whole textile cluster. In addition, the project is expected to create employment for approximately one thousand people.