06.03.19.
Asia Plus reports that China State Machinery Industry Construction Group Inc will help raise $ 300 million for the development of the textile industry in Tajikistan.
The delegation of Chinese businessmen under the leadership of the trade manager of China Machinery Industry Construction Group Inc Hu Sin met on March 5 with Nematullo Hikmatullozoda, Minister of Economic Development and Trade of Tajikistan.
At the meeting, it was noted that the Chinese state corporation will assist the “China Tajikistan Kulyab Textile Industry Park” enterprise with attracting foreign direct investment for processing cotton fiber. This enterprise 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.
China Machinery Industry Construction Group Inc, founded in September 1953, is the largest state-owned construction company in China.
