YEREVAN, NOVEMBER 29, ARMENPRESS. A textile factory will open in Tsovazard village of Gegharkunik Province in January, 2019 with an investment of an Armenian businessman, ARMENPRESS reports acting Prime Minister of Armenia Nikol Pashinyan said in Gavar city during the pre-electoral campaign.

“When I entered the PM’s office, one of the first things I did was the following – I was informed that an businessman tries to import to Armenia cottonseed to conduct experimental sowing in Armavir. He did that and now it turned out the harvest exceeded the expectations. This businessman if from Gavar by origin, from Tsovazard village and has decided to establish a textile factory there using that cotton. According to his promise, the factory will operate starting from January. It will have 400-600 vacancies for the initial stage, which will later grow to 1200”, Pashinyan said.

The acting PM noted that currently investment projects worth 589 million USD are discussed, and the Government will spare no efforts to bring them to life.

Edited and translated by Tigran Sirekanyan