Indian yarn maker Spentex Industries Ltd. has bought Uzbekistan\'s state-run Toshkent-To\'ytepa Tekstil LLC for $81 million to boost its overseas production capacity, the company said on Monday. The company will be a wholly-owned subsidiary and will be known as Spentex Tashkent Toytepa LLC. The deal will give Spentex a factory in each of the Uzbek cities of Tashkent and Toytepa with a combined total of 220,000 spindles and 236 looms, bringing the parent\'s overall capacity to 570,000 spindles. All of the Uzbek cotton will be exported to Europe, South America, the United States and Asia, excluding India. \"Uzbekistan has cheap power, cheap labour, cheap cotton -- what else do you want?\" said Mukund Choudhary, managing director at Spentex, adding the Uzbek government had offered tax concessions and a 15 percent discount on raw cotton. The company also said it would be moving into the woven cotton fabric business for the first time with its newly-acquired Uzbek looms. Spentex shares rose as much as 4.3 percent after the company\'s announcement, and closed up 3.64 percent in a firm Mumbai market. Choudhary also said the firm was negotiating to buy a 100,000-spindle state-run yarn factory in Egypt. (Reuters)