BAKU, Azerbaijan, October 4. Chairman of Azersheker's Board, Nasib Islamzada, told TurkicWorld that Azerbaijan's Azersheker LLC and Uzbekistan plan to complete a joint cotton-textile project by mid-2026.
"Azersheker and Uzbekistan's Global Textile Company will jointly create the textile cluster. The project spans numerous regions, with plans to create 2,400 new jobs within its framework. We plan to collaborate with farmers from Azerbaijani districts that specialize in this industry, including Yevlakh, Aghjabadi, Imishli, Fuzuli, and other areas. In the next stage, we plan to establish plants for primary processing of cotton in Ujar and Agjabadi," he said.
The project's economic efficiency was assessed last year, and cotton processing and cultivation tests were successful, he said.
He clarified that the plan is to commence construction work for yarn production within the next three months.
"The total cost of the joint textile cluster project with Uzbekistan is $104 million. A significant part of these investments falls on the yarn processing plant and fabric production. The cost of investments in the yarn processing and fabric production plant is about $80 million," Islamzada added.
The board chairman noted that the project's framework calls for organizing the processing of 40,000 tons of cotton.
He also clarified that Azersheker's internal resources will supply half of the cotton supply, with the remaining portion coming from other organizations and farms in the nation.
According to him, the plan is to produce 11,000 tons of yarn, which will eventually lead to the production of garments.
The company's representative stated that the value chain will continue to the finished garment, making our nation a more valuable exporter of textiles rather than just raw materials, and promoting the sector under more stable conditions.
He also mentioned that the project plans to collaborate with major European brands and export to the nearest regions.
"Azersheker's investments in the agricultural sector continue, and by the end of this month, a 1,500-ha farm equipped with modern irrigation systems will start functioning in Fuzuli, and an additional 5,400 ha of land is planned to be put into turnover in 2025," added Islamzada.
To note, Azersheker LLC, established in 2017, started producing various types of agricultural products by investing in agricultural fields in different regions of Azerbaijan. It plays an important role in ensuring our country's food security with its agricultural activities located in Shamkir, Yevlakh, Aghjabedi, Fuzuli, and Aghdam districts.
Global Textile is one of the leading textile companies in Uzbekistan, producing the world's best yarn and raw and dyed knitted fabric. In January 2018, it began producing high-quality compact yarn. Factories are located near Uzbekistan's largest transport hubs, Tashkent and Fergana.
