About Civil.ge
Eng | Geo | Rus
Last updated: 14:23 - 24 Sep.'16
RSS
Mobile
Twitter
Facebook
Egypt-based Company Plans Free Industrial Zone in Kutaisi
Civil Georgia, Tbilisi / 2 Apr.'09 / 13:38

An Egypt-based home appliances producer company, Fresh Electric, intends to create a free industrial zone in Georgia’s second largest town of Kutaisi, Lasha Zhvania, the Georgian economy minister, said on April 2.

A memorandum of intent between Fresh Electric and the Georgian government, he said, would be signed on April 6, according to which the company will establish the free zone on a 27-hectare plot of land. The Minister said that the company would build about dozen of textile, ceramics and home appliances producing factories in the zone.

Lasha Zhvania said that the company planned “unprecedented investments for Georgia.”

“Total of USD 1.28 billion will be invested this year and on the second stage, after year and half, a second stage of investment will be launched and over USD 2 billion will be invested. 2,500 people will be employed this year as a result of this project and on the next stage – after year and a half, from 12,500 to 15,000 people will be employed,” Zhvania said. “No such investment has ever been carried out in Georgia.”

He also said that a New York-based Georgian businessman, Mikheil Tigishvili, would be a local partner of the Egyptian company.

Latest News
24 Sep.'16 14:23
Ivanishvili Meets Businesspeople
He asked them scoldingly if they were “doing enough to explain” to voters positive trends in the country.
23 Sep.'16 14:38
Wizz Air Opens Base in Kutaisi, Launches 7 New Routes
Low-cost airline operator has based one of its new Airbus A320 aircraft at the Kutaisi airport.
22 Sep.'16 19:16
Georgia Charges its Ex-Deputy Interior Minister, Who is Now Chief of Police in Odessa
Charges relate to May, 2011 break up of anti-government protest rally in Tbilisi.
22 Sep.'16 13:55
PM Addresses UN General Assembly
He outlined govt’s 4-point plan, vowed to hold fair elections, condemned “Moscow’s annexation policy.”
21 Sep.'16 23:10
Abkhaz Leader’s Office Comments on Ex-FM Chirikba
Khajimba’s office said Chirikba “was not re-appointed” as FM because of his refusal to travel to Transnistria.
21 Sep.'16 13:57
Foreign Minister of Breakaway Abkhazia Resigns
Viacheslav Chirikba cited unspecified “existing circumstances” as reason behind the decision.
20 Sep.'16 18:07
CEC to Open 56 Overseas Polling Stations
Precincts will be opened in 48 cities of 41 countries for the October 8 parliamentary elections.
20 Sep.'16 14:47
Supreme Court Picks New Judge for Constitutional Court
Temur Tugushi will replace Otar Sichinava, whose 10-year term expires by the end of this month.
20 Sep.'16 10:38
Georgia’s PM Address UN Refugee Summit
He said “gravity of the situation” requires int’l community’s proactive and coordinated response.
19 Sep.'16 14:26
Burchuladze Hits Back at Ivanishvili, Calling him a ‘Liar’
“Georgia is governed not by the government, but by informal ruler,” leader of the State for People said.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
52