In order to successfully achieve the goals set before the textile industry in the period Revival of the New Epoch of the Powerful State, further strengthen its material and technical base, as well as implement the Decree No. 1969 “On the purchase of equipment by the Ministry of Textile Industry of Turkmenistan” issued by President of Turkmenistan on October 23, 2020, the President of Turkmenistan signed the Decree.

According to the document, for financing the contract for the purchase of modern equipment (on terms of carrying out all the work related to its delivery to Turkmenistan, installation and setup on site) for a wool-spinning line for the production of 130 tons of yarn from camel and goat wool per year, which will be established at the Bayramali Textile Complex named after Saparmurat Turkmenbashi the Great, as well as for a workshop for the processing of cotton and wool waste, cane, cotton stalks and the production of 7200 tons of wooden and insulating materials per year used in furniture manufacture and construction, which will be opened at the Dashoguz cotton spinning factory, concluded between the Ministry of Textile Industry and the Company “Cormatex Srl.” (Republic of Italy) in accordance with the Decree No. 1969 “On the purchase of equipment by the Ministry of Textile Industry of Turkmenistan” issued by the President of Turkmenistan on October 23, 2020, the State Bank for Foreign Economic Affairs was authorized to open a letter of credit established from credit funds of the Bank “Intesa Sanpaolo S.p.A.” (Republic of Italy), as well as to complete operations related to its registration and management.