A new cotton mill was inaugurated in the administrative center of Dashoguz province ahead of the celebration of the National Flag Day of Turkmenistan.

The facility worth US $ 66,540 million was erected by Turkish builders in the south-western part of Dashoguz on the bank of Shavat canal. The new plant will process more than 16,6 thousand tons of cotton fiber and produce 14,5 thousand tons of high quality cotton yarn of different colors annually. The annual output of the cotton mill will be worth US $ 24,700 million.

The cotton mill occupies 10 hectares of land, including industrial and office buildings and two cottages for staff. The territory of the complex was landscaped, taking into account soil and climatic conditions of the northern region.

As the Turkmenistan.ru correspondent reports from Ashgabat, the inauguration ceremony was attended by President of Turkmenistan Gurbanguly Berdimuhamedov. In his opening remarks, he noted that today Turkmenistan exports more than 70 percent of Turkmenistan's textile industry products to USA, Canada, Russia, Europe, China, Turkey and other countries.

According to the President, over US $ 1.3 billion have been invested in the development and comprehensive modernization of the textile industry during the years of independence, and this figure is expected to reach US $ 2 billion by 2020. Cotton mills will be built in every cotton-growing region.