New textile factory comes to Tbilisi

Georgia is fostering its growing textile industry by building a new factory in the capital city of Tbilisi.

A total of 3,872,268 GEL (about $1.58m/ˆ1.46m*) will be invested in the factory Tiflis Textile which plans to employ 24 people once it becomes operational.

Tiflis Textile will be built within the framework of the state program ‘Produce in Georgia’.

In total 231 projects are supported within the ‘Produce in Georgia’, announced Georgia’s Ministry of Economy today.

Over 512 million GEL (about $209m/ˆ194m*) has been spent to bring these 231 projects to life.

Meanwhile, commercial banks lent 280 million GEL (about $114m/ˆ106m*) to project beneficiaries.

In total 10,311 people are employed in enterprises created within the framework of ‘Produce in Georgia’.

*Currency conversions reflect National Bank of Georgia values as of today. (Agenda.ge)