Nergis Holding to launch textile and fibre production in Russia

Turkey’s Nergis Holding will implement two investment projects in Russia in the coming years.

As part of the first project, the company plans to invest up to US$700m in the construction of a textile factory in Karabanovo, Vladimir region, while the second project involves building a facility in the Dagestan Republic, which will specialise in the production of yarn and fabric, which will be used as raw materials for the Vladimir factory.

The new facilities are expected to be commissioned by 2017. According to Acting President of Dagestan Ramazan Abdullatipov, the projects will create more than 10,000 new jobs.

For the full story, see the July 2013 edition of Textiles Eastern Europe. Not a subscriber? Subscribe HERE