About Civil.ge
Eng | Geo | Rus
Last updated: 13:46 - 18 Oct.'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
18 Oct.'17 13:46
Elections 2017: Weekly Digest No. 6
Voters will elect 64 city councils and 64 municipal mayors during the October 21 municipal elections.
18 Oct.'17 11:16
Sokhumi Mulls New Restrictions for Ethnic Georgians
Russian-backed authorities intend to restrict freedom of movement to approx. 4 000 more Gali Georgians.
17 Oct.'17 17:58
Women in Power: Georgia in the Council of Europe Report
The report looks at the political participation of women in the Council of Europe’s 46 member states.
17 Oct.'17 17:11
The Weekly Tripwire - Issue 13
Civil.ge’s news digest covering developments in Abkhazia and Tskhinvali Region/South Ossetia.
17 Oct.'17 15:27
Georgia Bids Farewell to Abkhazia Conflict Victims
The remains of 25 persons were recently handed over to their families.
17 Oct.'17 11:50
Lavrov: Moscow Will Respect South Ossetian Sovereignty
Sergey Lavrov spoke at the 19th World Festival of Youth and Students in Sochi.
16 Oct.'17 16:42
Georgian, Italian Presidents Meet, Discuss Bilateral Cooperation
Giorgi Margvelashvili will also hold a meeting with Pietro Grasso, President of the Senate of the Republic.
14 Oct.'17 08:59
U.S. Embassy on Constitutional Amendments
The Parliament overturned the presidential objections on the draft constitution at today’s plenary sitting.
13 Oct.'17 22:21
Parliament Overrides Presidential Veto on Constitutional Amendments
The ruling party approved the initial version of the draft constitution with 117 votes.
13 Oct.'17 12:09
Georgian MFA on Catalonia Developments
Tbilisi rejects unilateral declarations of independence.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
103