New textile mill to open in Ivanovo

The Navoloki priority development area in the Ivanovo Region has received a new – fourth – resident company.

The new resident, the Center for the Single-Industry City Development, part of TDL Textile, will implement an investment project to create a new facility to produce cotton fabrics, traditional for the Ivanovo Region.

Total investment in the project is about RUR 223.8 mio ($3 mio); RUR 90 mio will be provided by the Foundation for the Development of Single-Industry Cities as a no-interest loan.

The project to establish a high-tech textile production facility is aimed at replacing foreign wide cotton fabrics used for home furnishing with Russian-made products.

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