Programme: Local Development, Poverty Reduction and Enhanced Inclusion of Vulnerable Groups

The current project proposal was developed in order to satisfy the necessity of Nitex Ltd. to expand production capacity and achieve sustainable development through digitalization of technological methods for the production of passementerie products. The target group of the project is Nitex Ltd. - a small enterprise with main activity code 13.99.
The overall goal of the project is related to increasing the company's production capacity, reducing production costs, optimizing the production chain and increasing the efficiency of production processes, which will directly increase the competitiveness of Nitex Ltd.
The overall goal of the project will be realized through the implementation of the project activity "Acquisition of new technologies with an emphasis on the digitization of production processes with a view to expanding the production capacity of Nitex Ltd.”, including the purchase and commissioning of 7 units of weaving machines and 2 units of needle knitting machines.
The expected results of the implementation of the project will contribute to the achievement of sustainable economic development of the enterprise and restoration of its economic potential from the period before the COVID-19 pandemic, through digitization and expansion of production activity.
In this regard, the company will strive to achieve the following effects:
1. Increase in net sales revenue for 2024 vs. 2021.
2. Increasing the production capacity in the production of elastic and non-elastic bands and cords with and without a core, as well as flat bands after the implementation of the project by 12% compared to 2021.
3. Achieving sustainable growth of Nitex Ltd.  through the wider application of ICT in the production process.
The planned investments under the project meet the requirements of the principle of "not causing significant harm" to the environment and will contribute to the ecological transition of the country.