About Civil.ge
Eng | Geo | Rus
Last updated: 18:14 - 26 Sep.'17
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
26 Sep.'17 18:14
Russian Diplomat: NATO Activities in Georgia ‘Serious Threat’ to Russian Security
Russian Deputy Foreign Minister Grigory Karasin met with the co-chairs of the Geneva International Talks.
26 Sep.'17 15:19
Elections 2017: Weekly Digest No. 3
Voters will elect 64 city councils and 64 municipal mayors during the October 21 municipal elections.
26 Sep.'17 12:52
Four Factions in Parliamentary Majority Speak in Favor of Constitution
The Parliament is to adopt the new constitution at its special sitting today.
25 Sep.'17 22:55
President Declines Request for Convening Special Parliamentary Sitting
Despite refusal, MPs will gather on September 26 to adopt the new constitution with final hearing.
25 Sep.'17 13:58
Estonian, Latvian, Lithuanian MFAs on Georgia’s EU Membership Perspective
Civil.ge reached out to EU Member State MFAs on the upcoming Eastern Partnership Summit.
25 Sep.'17 12:25
Venice Commission on Georgia’s Draft Constitution
Postponement of proportional electoral system regrettable, bonus system should be abandoned.
24 Sep.'17 14:05
Officials Condemn Demolition of Ethnic Georgians’ Homes in S. Ossetia
President, Parl. Chairman, Ministers slam ‘clearing works’ in village Eredvi as “continuation of genocide.”
22 Sep.'17 17:19
Georgia Spent Nearly Million for U.S. Lobbying in 2016
The Government’s most recent contract was signed with with StrateVarious LLC.
22 Sep.'17 16:18
PM’s UNGA Speech: Georgia ‘Growing, Vibrant, Resilient’
PM Giorgi Kvirikashvili addressed the United Nations General Assembly.
22 Sep.'17 10:51
Prime Minister Kvirikashvili’s UN Speech
Giorgi Kvirikashvili leads the delegation in New York.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
88