More than 800 million rubles will be invested in the Yartsevo cotton factory

Within the framework of the key economic site of the country - the Russian Investment Forum in Sochi - the signing ceremony of the Cooperation Agreement between the Administration of the Smolensk region and LLC «Union of Textile Companies» was held.

"Union of Textile Companies" (STK) is a modern multi-profile production of natural fabrics, it manufactures products on the basis of two industrial platforms: Yuryev-Polish weaving and finishing factory «Avangard» and Yartsevo cotton combine.

The agreement provides the implementation of an investment project aimed at a comprehensive modernization of the prepackaging, weaving and finishing capacities of the Yartsevo cotton combine. It is expected that the amount invested will be more than 800 million rubles in 2018-2019.

The document was signed by the Governor Alexey Ostrovsky and the General Director of the «Union of Textile Companies», Oksana Melekhina.

It should be noted that to date Yartsevo cotton combine is the largest enterprise in the textile industry of the Smolensk region with a full production and technological cycle - from processing various types of fiber to the production of finished fabrics, including technical and used in the manufacture of overalls, and garments from them. The implementation of the investment project will increase the company's production potential, introduce innovative technologies, get new equipment and expand the range of products. It is important that as a result of modernization will be creation of more than 120 new workplaces at the factory.