OREANDA-NEWSOne of the largest textile holdings in southeast China - Jiangsu Soho Int. Group corporation, which produces clothes for the Zolla, Ostin, Zarina and InCity brands, as well as sportswear and equipment for the Sportmaster network, plans to invest at least 100 million rubles in creating its own or purchasing an existing plant in the Moscow region. This was announced on Thursday by the press service of the Ministry of Investment and Innovation of the region.

“Due to localization, the company plans to expand its activities in Russia and enter the European market. As the representatives of the holding said at a meeting with Deputy Login and Investment Minister of the Moscow Region Anton Loginov in the city of Jiangsu, the city of Nyanking, they are considering the possibility of building or acquiring a factory with a warehouse complex with initial investment of 100 million rubles", the report said.

According to the deputy chairman of the government of the Moscow region Vadim Khromov, initially the plant will have 150 jobs. In the future, their number may increase to 1 thousand. The press service of the ministry clarified to TASS that the investor could choose a site for the plant and make a final decision within six months.

From August 5 to 9, the Government of the Moscow Region, on behalf of the Governor of the Moscow Region Andrei Vorobyov, holds a road show - presents its potential to foreign investors in the People's Republic of China. In the city of Nanjing, according to Khromov, the event brought together about 40 Chinese entrepreneurs. 

Russian manufacturers of mass-market clothes are in a difficult situation in which larger Western players, such as ZARA and H&M, are imposing a fight on them. However, some of them show positive dynamics even at such a time.