A new manufacture "Boren textiles" has been opened today in Nalchik. It will produce wool and acrylic garments. A symbolic red ribbon was cut by the President of Kabardino-Balkaria and one of the co-owners of the production, a citizen of Turkey Shik Boren. The head of the republic congratulated everybody on the event and stressed that opening of the new manufacturing is especially important in the conditions of the financial crisis.

"Boren Textiles" is 500 jobs first of all and taxes that will refill the budget. Average annual production throughput will be 1 mln. units  in total sum of $15 mln. The authorized capital of the joint company "Boren Makine Mumessillik ve Dysh Tidjaret Sanai Ltd Shirketi" and the Agency on Investment and Development of KBR is 340 mln. roubles. It is one of the vivid examples of private-state partnership. A purely state Agency on Investment injected 25+1 % of the authorized capital. "Boren textiles" has quite a large experience of work including marketing in Russia. About 90 % is realized here and carrying the production over to Kabardino-Balkaria will surely facilitate delivery to the final customer.

 Investment projects have been actively realized of late. This is the third enterprise opened this year. A textile mill, a furniture factory, greenhouse complexes in Baksan will create from 2 to 5 thousand jobs. 

"Using the republican budget money to co-finance investment projects will help improving the situation in the economy of KBR. Our objective is to help business, especially in creating high-technology productions to produce competitive goods" - said Arsen Kanokov.   

Shik Boren thanked the President of KBR for the help he rendered and promised to work "day and night" to set the mill to total output. He added that they plan to bring the number of jobs to 3000.

"I am happy to see how the economy of the republic is recovering, our compatriots returning to the historical motherland", - said the Head of the Ecclesiastical Directorate of the Muslims of KBR. It is rather symbolic that the mill is opened in the holy month of Ramadan. The business opened today is blessed.