The new unit has been built on land given by the LEPL National Agency of State Property. The factory has come up at a total cost of 6 million lari ($2.444 million).
Under the Enterprise Georgia programme, Tiflis Textile received 190,000 lari ($77,393) of financing, which helped the company to equip the factory with the high-standard modern machinery, the ministry of economy and sustainable development said in a statement.
The company uses two components—finance and infrastructural support—of the programme, said Kumsishvili, who was accompanied by Mikheil Khidureli, the newly appointed head of the Enterprise Georgia, while touring the factory after its inauguration.
“The Tiflis Textile products will enjoy high demand in the local market since the socks are of highest quality. However, the production is export-oriented, which will certainly have a positive impact on our tax balance and will bring more foreign currency into the country,” said Kumsishvili. (RKS)
Fibre2Fashion News Desk – India