Just-Style.com
December 12

The European Bank for Reconstruction and Development (EBRD) will provide a US$13 million loan for the building of a state-of-the-art knitted cotton garment plant in Uzbekistan.

The primarily export-oriented plant, a joint development by Turkish company Bursel Textile Industry and Foreign Trade Inc, will be one of the first privately-owned garment factories in the country’s largely state-controlled textile sector.

It will be built just outside Tashkent and is expected to create about 1200 jobs.

Bursel, which has held investments in Uzbekistan for more than a decade, will also benefit from a US$5m loan provided by the Vienna-based Opec Fund for International Development towards the project.

Uzbekistan is one of the world’s largest cotton producers, but only about a quarter of its total cotton fibre output is processed domestically.

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