An agreement was signed between Turkish Firm Cotam Enterprises Ltd and Turkmenistan the Ministry of Textile to establish a new textile complex in the country. The construction activities of the complex started on March.
Textile journey of Bisaş İplik founded by Muammer Ağım who is the member of Ağım Family which is the rotted names of business world, continued with the investments at tourism and Mall sectors after the foundation of Bisaş Textile. One of the other riveting investments of the group at textile field is Cotam Enterprises Ltd. founded in 1993 in Turkmenistan. Cotam that is one of the Turkish firma servicing for the Government of Turkmenistan for long years has 17 projects in various regions in of Turkmenistan.
It Will Be Finished in 2021
The Ministry of Turkmenistan Textile was given the authorization of signing agreement with Cotal Enterprises for the construction of textile complex equipped with modern technology with the decision signed by the Prime Minister of Turkmenistan; Gurbanguly Berdimuhamedov . After the agreement made with Cotam Enterprises Ltd., the construction activities of the factory which was founded on Kaka region of Ahal Province started March 2018 and to be planned to complete on March 2021.
According to the data of Turkmenistan, annual production capacity of the operation will compose of 10 million square meter dyed fabrics, 1.2 million pieces of ready-to-wear, 3.650 tons of cotton yarn and 12 million square meter high quality fabrics. At the same time, the agreement covers the subjects development of the neighbor lands, training of the experts and the supply of spare parts.
In the country, more than 20 textile firms having Turkish shareholders are carrying on business. Within the scope of the Government Program to be created to develop Turkmenistan textile industry between 2011 and 2020, the government is plannings to raise textile investments to 2 billion dollars till 2020. In the plan, the employee digit at the sector is expected to increase to 36 thousands in 2020. This expanding is expected to provide 230 thousand tons of cotton to be processed per year and provide export incomes to increase 350 million dollars.
