12:53 - 12.07.2024

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July 12, Fineko/abc.az. Uzbek company Tukımachı Sanoat Tekstıl LLC invests 92.5 million manats in the creation of 5 enterprises in Azerbaijan.

ABC.AZ reports that the agreement on the occasion was signed by Elchin Rzayev, the head of the Imishli district executive power, and Rahib Isayev, the head of the Tukımachı Sanoat Tekstıl subsidiary in Azerbaijan - TST Textile Group.

The document envisages transfer of 5,826 hectares of agricultural land of the Imishli district-located agropark under management of the Economic Zones Development Agency to the Uzbek company for long-term use.

The company will initially invest 28.7 million manats in creation of cotton fields on the territory, and in 2025-2029 it will build a cotton processing plant, a spinning, weaving and sewing factory, as well as a cotton oil production plant. Cotton processing and oil production plants will be established on the territory of the agropark, and spinning, weaving and sewing factories will be established on the territory of the Mingachevir Industrial Park.