Turkmenistan privatizes textile industry

Two public joint-stock companies (PJSC) in the textile sector will be formed in Turkmenistan, Trend reports referring to the Turkmen Textile Industry Ministry.
These include the textile complex located in Gypchak and the enterprise for the processing of cotton waste located in Buzmeyin (both in Turkmenistan’s Ahal Region).
The textile complex in Gypchak is one of the largest in the country. The company was built in conjunction with Turkey’s Norsel and launched in 1997. The complex specializes in the production of cotton yarn, knitted fabric, finished sewing and knitwear. About 95 percent of its produce is exported to the US, Canada, Germany, Turkey, and Russia.
The complex’s production capacity is as follows: cotton yarn - 4,250 tons per year; severe knitted fabric - 4,050 tons per year; dyed knitted fabric - 3,850 tons per year; finished garments - 15.0 million pieces per year.