Turkmenistan will convert two state-run textile firms—the textile complex in Gypchak and the cotton waste-processing enterprise in Buzmeyin, both in the Ahal region—into public joint-stock companies (PJSC), according to regional media reports that quoted the textile ministry. A PJSC allows thousands of people to jointly own a business with limited liability.
Launched in 1997, the textile complex in Gypchak—one of the largest—was built in cooperation with Turkey’s Norsel. It specialises in the production of cotton yarn, knitted fabric, finished sewing and knitwear. About 95 per cent of its produce is exported to the United States, Canada, Germany, Turkey and Russia.
The enterprise in Buzmeyin was commissioned in 2005. It produces purified cotton spinning waste with an annual capacity of 2,500 tonnes. The equipment used there is provided by Turkey’s Balkan company.
Turkmenistan grows more than 1 million tons of cotton annually and has 85 textile and clothing enterprises, half of which are high-tech.
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