Home / Knowledge / News / Textiles / Venezuelan President inaugurates textile firm in Miranda
Venezuelan President inaugurates textile firm in Miranda
21
Oct '13
The President of Venezuela, Nicolas Maduro, innaugrated the social property company Algodones del Orinco (Cotton of Orinco), located in Los Teques region of the state of Miranda in the country, as part of his Efficiency on the Streets Government tour to the region.
 
According to a statement issued by the Government of Venezuela, the President said the firm would be producing textile and apparel products for the region, and would contribute towards specific economic growth of the nation.
 
President Maduro said the company has latest technology, which would bring a revolution in the textile and clothing sector of the country, as well as further the economic development.
 
The Government invested 84 million Venezuelan bolivars for working capital and the full recovery of the company which was left in ruins in the 1990s.
 
The company, which would employ over 100 people in the region, has also installed embroidery art machinery from China, which is capable of embroidering nearly 200,000 pieces of clothing annually.
 
The recovery of the textile firm began in July 2011 with the purpose of reviving the entire infrastructure of the old textile factory with an exceptional plan to boost the process of textile production of the company.
 
The firm would be producing around 1,200 pieces of clothing per year, including 300 shirts, 300 chemises, 500 jeans and 100 t-shirts annually.
 

Fibre2fashion News Desk - India

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