Interfax
December 15

Japan Bank for International Cooperation (JBIC) allocated a loan of about $9.5 million to Uzbek- Turkish joint venture Turon Textile for a cotton yarn plant, the joint venture told Interfax.

The loan is for 10 years and is guaranteed by the Uzbek government.

The plant, which is to be built in Khorezm region, will have the capacity to produce 3,411 tonnes of cotton yarn a year. The project will cost $17.16 million. Turon Textile will provide the rest of the necessary funds.

Construction should take 13 months. The yarn produced will be exported. Turon Textile signed a deal with Marubeni of Japan for equipment worth $9.5 million.

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