President Ilham Aliyev, Chairman of the Board of Azersheker LLC Nasib Islamzade, and Chairman of Global Textile Group Muzaffar Razakov pressed the button signaling the start of construction of the facility, AZERTAC reported.
The founders of Textile Horizon LLC, which was granted resident status in the Mingachevir Industrial Park last year, are Azersheker LLC, Global Textile LLC, and the Azerbaijan–Uzbekistan Investment Fund. As part of the project, the production process will cover the entire chain, from cotton planting to the production of lint, yarn, fabric, and final textile products.
The enterprise will benefit from all tax and customs privileges granted to residents of the Mingachevir Industrial Park.
The facility, covering an area of 11.2 hectares, is expected to produce 16 thousand tons of lint, 11 thousand tons of yarn, 7.3 thousand tons of dyed fabric, and 11 million shirts annually. In addition to the domestic market, the products will also be exported.
Source: AZERTAC
