JSCIB "Ipoteka Bank" (Uzbekistan) has financed a new joint project of JV «UZTEX Shovot» (Uzbekistan), JV "Katqala-Teks" (Uzbekistan) and LONATI S.p.A. (Italy)

In 2017, in the Khorezm region of Uzbekistan, a new facility will start producing socks with an annual output of 35 million pairs per year. All products of the new company will be exported and 300 new jobs positions will be created.

The implementation of the ambitious project has become possible as a result of the effective partnership between:

  • JSCIB "Ipoteka Bank" (Uzbekistan), who provided a long-term credit for the purchase of equipment;
  • JV "Katqala-Teks" (Uzbekistan), who provided industrial platform and financed part of the equipment and construction of new factory;
  • LONATI S.p.A. (Italy), a leading world manufacturer of sock-knitting machines with an annual output of over 8,000 machines, who will supply all equipment.
There will 512 machines for high-speed hosiery knitting socks and pantyhose with the possibility of multicolor patterns (Models GK 616FS, GK 716FS, GK 516FS, GK 625FS, DC88HS) by LONATI S.p.A.(Italy) installed on the new facility.

The project has been financed by JSCIB "Ipoteka Bank" (Uzbekistan) in amount of 42 bln. UZS on favorable terms for a period of 8 years with interest rate 9% per annum.