MONGOLIA: Cashmere group Gobi JSC to upgrade production
Mongolian cashmere and garment group Gobi JSC is to invest in new equipment to improve the quality of its products and increase production capacity.
The modernisation programme is being funded with a US$5m loan from the European Bank for Reconstruction and Development (EBRD). The financing will be used to purchase new machinery for spinning, knitting, linking, weaving and finishing.
Established in 1981, Gobi is a fully integrated processor with capabilities ranging from primary processing to manufacturing of cashmere and camel wool knitwear and woven products. It is majority owned by the Tavan Bogd Group of Mongolia and by HS Securities of Japan and is listed on the Mongolian Stock Exchange.
During the past two years Gobi has been restructured under new ownership and management following its privatisation.
The project will enhance Gobi's competitiveness on both local and international markets. Cashmere processing is the second largest currency earner for the country after mining and is an important traditional sector where Mongolia can compete at an international level.
The modernisation programme is being funded with a US$5m loan from the European Bank for Reconstruction and Development (EBRD). The financing will be used to purchase new machinery for spinning, knitting, linking, weaving and finishing.
Established in 1981, Gobi is a fully integrated processor with capabilities ranging from primary processing to manufacturing of cashmere and camel wool knitwear and woven products. It is majority owned by the Tavan Bogd Group of Mongolia and by HS Securities of Japan and is listed on the Mongolian Stock Exchange.
During the past two years Gobi has been restructured under new ownership and management following its privatisation.
The project will enhance Gobi's competitiveness on both local and international markets. Cashmere processing is the second largest currency earner for the country after mining and is an important traditional sector where Mongolia can compete at an international level.
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