Armenian textile producer to expand output

Armenian textile and clothing producer Alex Textile is to invest more than AMD15.6bn (US$32.4m) in expanding production this year.

Of this, AMD14.1bn (US$29.3m) will be used to purchase of raw materials, with the remainder for new machinery and equipment.

The company has already received guarantees of support from the Armenian government in the form of customs, tax and other benefits.

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