Spitamen Textiles LLC Brings South Korean Investment, Experience and Technology to Tajikistan
5 months ago tajikistannewsgazette.com Comments Off on Spitamen Textiles LLC Brings South Korean Investment, Experience and Technology to Tajikistan
DUSHANBE, Spitamen Textiles LLC signed an investment cooperation agreement with the South Korean Baoshan Tianfang Science and Technology LTD., which will allow the Tajik cotton yarn producer to double its production.
The two textile moguls met each other and agreed to cooperate during the Istanbul Yarn Fair in February 2019, reports Spitamen Textiles LLC Press Office.
The South Korean company is part of “Tianjin Tianfang Investment Holding Co Ltd”, a known manufacturer and distributor of textile materials.
According to Spitamen Textiles Founder and Director General Akbar Khakimov, their South Korean counterpart will provide the Tajik company with most modern yarn processing equipment.
“The company yarn production capacity will increase from current 7,560 spindles to 14,000, and consequently exports are scheduled to increase two times. The South Korean partner will also provide the Tajik company with cotton fiber and will assist in finding clientele for the produced yarn,” estimates Spitamen Textiles factory Director Mirzokodir Bakoev.
The new investments allow Spitamen Textiles to increase the number of workers from current 184 to 300 people, double the factory’s production capacity, and purchase yarn processing equipment aiming to diversify its product assortments. Currently, the South Korean specialists arrived in Spitamen to start preparedness works.
The company will start producing of ready garment in nearest future in order to reach the aim of implementing the full cycle of cotton processing inside the country. A garment producing factory building is already prepared in Fayzobod and partially furnished with necessary sewing equipment. It is planned that this factory will employ local women.
Spitamen Textiles LLC established in 2009 and is one of the largest textile enterprises in Tajikistan with 100% local ownership. The company is equipped with modern Italian equipment and is capable to produce products that meet all the requirements of the international standard. The company mainly exports yarn to China, Turkey, and South Korea.
Source: National information agency of Tajikistan