KHUJAND, March 25, 2011, Asia-Plus  -- President Emomali Rahmon inaugurated a spinning mill, Olim Textiles, in Mastchoh district Friday afternoon.

Olim Textiles, which is the largest spinning mill in Sughd province, has been built by private entrepreneur Jamshed Abdulov.

The Eurasian Development Bank (EDB) has provided a US$22 million loan for purchase of equipment for the enterprise.  The equipment has been purchased from the Germany company, Textima.  In all, 125.7 million somoni have reportedly been spent for construction of the enterprise.

The factory with capacity of processing 7,000 tons of cotton fiber per year will create some 400 new jobs for local residents with introduction of the first line into operation.

In the future, Olim textiles will produce not only cotton yarn, it will also produce clothes and some 1,000 people will work with the enterprise.