Baku:A significant ceremony took place with the participation of President Ilham Aliyev of Azerbaijan, marking the inauguration of the Minkend Small Hydroelectric Power Plant and the laying of the foundation stone for a new production facility under the Textile Cluster project. This event was conducted online on September 26 at the Baku Convention Center.

According to Azerbaijan State News Agency, President Aliyev, along with Nasib Islamzade, Chairman of the Board of Azersheker LLC, and Muzaffar Razakov, Chairman of Global Textile Group, initiated the construction of the new facility by pressing a button during the ceremony.

Textile Horizon LLC, the company behind the new facility, was granted resident status in the Mingachevir Industrial Park last year. Its founders include Azersheker LLC, Global Textile LLC, and the Azerbaijan-Uzbekistan Investment Fund. The project aims to cover the entire production process from cotton planting to the manufacturing of finished textile products like lint, yarn, and shirts.

The facility, occupying 11.2 hectares in the Mingachevir Industrial Park, will receive tax and customs benefits available to park residents. It is projected to produce 16,000 tons of lint, 11,000 tons of yarn, 7,300 tons of dyed fabric, and 11 million shirts annually. The products will be marketed domestically and for export.