A new knitwear factory is planned to be constructed in Ali-Yurt village of Russian province of Ingushetia, according to a press release from the Ministry of Construction of the Republic of Ingushetia.
Ingushetia lags behind the national average on all key socio-economic indicators. With virtually no industrial production potential and poorly developed market relations, there are significant social and economic risks for businesses in the region.
Low level of productivity is one of the major problems of industrial development in Ingushetia and the region is in need of new production facilities, and the planned construction of a knitting factory in Ali-Yurt is important in this context.
The knitting factory will create more than 500 jobs and will have a positive impact on the dynamics of economic development in Ingushetia and will also bring additional revenue to the local government, the statement said.
The knitting sector is the most promising among the different branches of the textile industry, as it has a number of advantages in terms of products and efficiency of production technology.
The new knitting facility in Ali-Yurt will be equipped with a new, more technologically advanced machinery and equipment. In addition, highly skilled professionals would be involved in the production, which would be made using new raw materials in accordance with modern knitwear manufacturing and work organization.
Located in the North Caucasus region, Ingushetia is one of Russia’s poorest and most restive regions. In terms of area, the republic is the smallest of Russia’s federal subjects except for the two federal cities, Moscow and Saint Petersburg.