Turkish company "Nergis" Intends to invest 500 million dollars into the Textile Industry of Dagestan

The Turkish delegation arrived in Dagestan to take part in the II Dagestan Economic Forum. The company "Nergiz" is specializing in the manufacture of threads, fabrics and other textile products. Turkish businessmen also acted with an intention to build a textile factory in the republic. According to the preliminary estimates the first phase of the project will take over 500 million dollars of investments. The construction companies will create approximately 5000 new jobs. Welcoming the guests, Dagestani Head said that the between the contacts established between the company and the republic are very promising. "We will do everything to make implement our plans properly. The team that is interacting with you now, will continue to work actively to implement the plan. For Dagestan, of course, the economic component of this project is the most important. Besides, we appreciate the brotherly relations between our peoples, which will only be strengthened through the mutually beneficial cooperation" - Magomedsalam Magomedov said. For his part, the chairman of the Board of Directors of the holding "Nergiz" noted that the Turkish company in Dagestan is not so much to make money, even though the profitability of the project is obvious but to share the success of the enterprise with friendly people of Dagestan. According to Turkish businessman, in five years the textile enterprises will give an opportunity to bring the volume of exports up to 500 million dollars a year. To date, this amount for the republic is little more than $ 50 million. At the same time Javid Çağlar outlined the well-developed transport infrastructure and affordable raw materials as a business advantage of Dagestan which attracts the attention of investors.