Prime Minister visits textile factory in Chui Oblast

Bishkek, Feb.11, 2020. /Kabar/. As part of his working trip to Kyrgyzstan’s Chui Oblast, Prime Minister Mukhammedkalyi Abylgaziev familiarized with the activities of Textile Trans company. According to the press service of the Government, PM Abylgaziev visited the company and inspected the production shops of the factory. Today, Textile Trans is a three factories with a total area of 25,000 sq.m., where over 550 employees work. The company specializes in the production and wholesale of fabrics, knitwear and hosiery. Further, the Kyrgyz PM visited the territory of the Kyrgyz-Chinese Paper Mill (KCPM) OJSC, which is bankrupt. Mukhammedkalyi Abylgaziev was informed of the work being done to recover the budget debt of the bankrupt paper mill through the sale of its property complex. He stressed it is necessary to accelerate the process of budget debt repayment and to support the expansion of Textile Trans textile and sewing enterprise, which contributes to strengthening the export potential of the country and the national economy, being one of the flagships of the domestic textile industry. The head of the government instructed responsible managers to take special control of the issue of solving all problems at these enterprises. The Textile Trans company was founded in 2008. For today, the group of companies includes: a hosiery factory in Bishkek, a knitting factory in Tokmok town and a garment factory in Bishkek FEZ. The factories are equipped with modern, high-tech equipment. The products are highly competitive both in the domestic market and on the territory of the Eurasian Economic Union. 90% of the manufactured products are exported. The annual turnover of groups of companies for 2018 exceeded $10 million. The issue of establishing a Kyrgyz-Chinese Paper Mill has been under way since 1994, when a Credit Agreement between the Governments of China and Kyrgyzstan was signed. In 2002, a production complex of buildings and facilities was put into operation. Since October 2011, the production activity of the mill has been completely suspended for various reasons. Funds in the amount of CNY 110 million 160 thousand ($18.3 million) of the Chinese credit was spent on the construction of the factory, repayment of which is made by the Government of the Kyrgyz Republic from the national budget. So far, a number of open tenders have been held to sell the property complex of KCPM OJSC in order to repay the budget debt. However, due to the lack of bids, all tenders have been declared invalid.