About Civil.ge
Eng | Geo | Rus
Last updated: 16:59 - 1 Sep.'14
 
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
01 Sep.'14 16:59
NATO Chief Lays Out Package to 'Bring Georgia Closer' to Alliance
Among the proposals is to establish “defense capacity building mission” and training center in Georgia.
01 Sep.'14 14:41
New Chief of Military Police Appointed
Col. Tsukhishvili was deputy chief of staff of the armed forces in 2009-2013.
01 Sep.'14 10:21
Foreign Minister of Finland to Visit Georgia
Foreign Minister of Finland Erkki Tuomioja will visit Georgia on September 1-2.
31 Aug.'14 13:09
Georgia Seeks Interpol 'Red Notice' for Saakashvili
Saakashvili meets UNM MPs in Turkey, calls for “new initiatives, activities” to prevent Georgia’s “backsliding”
30 Aug.'14 15:13
Border-Crossing Point with Russia, Closed by Landslide, Partly Reopened
Traffic via the border-crossing point will be open for 11 hours a day.
30 Aug.'14 10:18
U.S. Secretary of Defense to Visit Georgia
Georgia is “one of the United States' and NATO's most important and capable partners,” Pentagon said.
29 Aug.'14 22:12
UNM MP Bakradze Questioned by Prosecutors over Undeclared Bank Accounts
“I hope prosecutors received enough information to ascertain that I’ve done nothing illegal,” he said.
29 Aug.'14 15:07
Georgian, French Defense Ministers Meet in Paris
“Our bilateral relations will further deepen and become more comprehensive,” Alasania said.
29 Aug.'14 13:44
July GDP Growth 7.2% - Preliminary Data
Last week Moody's changed the outlook on Georgia's Ba3 sovereign rating to positive from stable.
29 Aug.'14 12:30
PM 'Concerned over Reports of Military Aggression' in Ukraine
“What is happening in Ukraine is completely inadmissible and unacceptable,” Garibashvili said.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
72