A chemical fibre plant owned by the state-owned OJSC Ferganaazot is planning the expansion of its acetate filament plant by increasing the production from 500 tons per month to 2,000 tons per month at a cost of US $5 million.
The expansion project will be implemented at the Ferghana Chemical Fibre Plant, which is now a subsidiary of Ferganaazot. Earlier the assets of Ferghana, which had declared bankruptcy, were transferred to Ferganaazot by a government order.
The Ferghana Chemical Fibre unit was set up in 1969 in the erstwhile USSR to meet the demands of the man-made fibre manufacturing sector.
Ferghana was not able to use its full capacity due to shortage of its key raw materials; Caprolactam, due to which it later had to be closed down, due to which it failed to pay its debt and declared bankruptcy in 2009.
Fibre2fashion News Desk - India
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