With a view to developing long-term technical economic cooperation between the Government of Turkmenistan and the Government of the People's Republic of China, a velvet factory will be set up in Ruhabat district.
Design and construction of proposed velvet factory has been assigned to Turkish company 5M Insaat Tekstil Ithalat Ihrajat Sanai Ticaret Ltd Sti.
Technology, equipments and accessories in velvet factory will be installed by Chinese company Jum Shui Ltd.
This estimated cost of proposed factory is Yuan 90 million, of which Yuan 50 million will be issued by Government of China as an interest-free loan, while remaining Yuan 40 million will be provided to Turkmenistan by Chinese Government as grant.
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