A new textile factory was inaugurated in Ruhabat district of Akhal province. It will produce one million meters of printed and painted silk velvet of all colors annually. It is expected that velvet production will be sufficient for domestic demand and export, the Turkmenistan.ru correspondent reports from Ashgabat. The factory will employ around 550 people.

The US $ 28,75 million project was implemented as part of the intergovernmental agreements between Turkmenistan and the People's Republic of China. Under the agreements, the Chinese government provided 50 million Yuans of interest free credit and 40 million Yuans of grant for the factory design, supply and installation of equipment. The factory was built by Turkish company 5M Inshaat Tekstil Ithalat Sanai Tijaret LTD Sti under a credit of US $ 12.6 million, provided by the oil and gas complex of Turkmenistan. Chinese company Jum Shui supplied equipment for the factory.

Turkmen President Gurbanguly Berdimuhamedov attended the inauguration ceremony on 22 October. He cut a symbolic green ribbon and viewed production facilities. The head of state informed the ceremony participants about his decision to allocate 30 ambulances, 30 buses and a few special cars for bread transportation for Akhal province.