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Old November 28th, 2009, 01:30 PM   #1
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Ukraine supports Georgia’s free industrial zone in Poti
By Messenger Staff
Tuesday, November 24
Ukrainian President Viktor Yushchenko is sure that the Poti free industrial zone will further facilitate business cooperation between the two countries. He says that Ukrainian businessmen will actively participate in the development of this zone and adds that his country’s participation in Poti projects has long targeted politics in the transit strategy of the country.

Yushchenko says that the Poti-Kerch (Ukraine) ferry route will become important segment of the free industrial zone project. Full usage of this route will double the transportation between the two countries and decrease the time it takes. The Ukrainian President also highlighted his country’s participation in other free industrial zone projects, underlining the liberalisation of transport practice being discussed between the two countries.

The Poti free industrial zone will cover around 300 hectares. Around USD 200 million will be invested in it for the development of Poti Port infrastructure. The Georgian Government will monitor the functioning of the free industrial zone.
source: http://www.messenger.com.ge/issues/1...econ_four.html
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Old November 28th, 2009, 01:30 PM   #2
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Ukraine supports Georgia’s free industrial zone in Poti
By Messenger Staff
Tuesday, November 24
Ukrainian President Viktor Yushchenko is sure that the Poti free industrial zone will further facilitate business cooperation between the two countries. He says that Ukrainian businessmen will actively participate in the development of this zone and adds that his country’s participation in Poti projects has long targeted politics in the transit strategy of the country.

Yushchenko says that the Poti-Kerch (Ukraine) ferry route will become important segment of the free industrial zone project. Full usage of this route will double the transportation between the two countries and decrease the time it takes. The Ukrainian President also highlighted his country’s participation in other free industrial zone projects, underlining the liberalisation of transport practice being discussed between the two countries.

The Poti free industrial zone will cover around 300 hectares. Around USD 200 million will be invested in it for the development of Poti Port infrastructure. The Georgian Government will monitor the functioning of the free industrial zone.
source: http://www.messenger.com.ge/issues/1...econ_four.html
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Old November 28th, 2009, 01:37 PM   #3
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Azeri company to plan railway station in Akhalkalaki
By Messenger Staff
Wednesday, November 18
Azeri architectural planning company Kontur has won the international tender for drawing up a project plan for the construction of a railway station in the Georgian town of Akhalkalaki, a key station on the Baku-Tbilisi-Kars line. It will include a siding where the wheels of the railway carriages will be changed.

As is known both Georgian and Azeri railway tracks are of Russian standard gauge, meaning they are wider than the European standard gauge tracks in Turkey. The Akhalkalaki railway station is intended to initially process 5 million tonnes of cargo annually with the prospect of increasing this to 15 million tonnes. The project plan will include the provision of an energy supply, communication systems, alarm and warning systems and other infrastructure for facilitating the transportation of people as well as cargo. Construction of the railway station should begin in 2010 and be finished in a year.
source: http://www.messenger.com.ge/issues/1..._econ_two.html
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Old November 28th, 2009, 01:39 PM   #4
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Motorway bridge repaired in Gori district
22.11.09 16:41
The motorway bridge damaged in the August war, opened in Gori district on Sunday. Heavy load cars are also able to move across the bridge over the railroad without any hindrances. Rehabilitation works of the bridge were going on gradually. At first piers of the bridge were repaired, then the cover of asphalt and concrete was laid, railings and sidewalks were made.
Over GEL 2 million was spent on the repairing works of the bridge and they were funded from the state budget. The head of the Road Department and the governor of Shida Kartli Region attended the opening ceremony.
http://rustavi2.com/news/news_text.p...main&ct=4&wth=
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Old November 28th, 2009, 01:40 PM   #5
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Saakashvili, Ukraine attended bilateral business forum in Kiev
20.11.09 10:42
Georgian and Ukrainian presidents attended a joint business forum in Ukraine at the end of the visit of Mikheil Saakashvili to Kiev. Georgian and Ukrainian business authorities discusses several joint projects.
Earlier, Georgian President discussed intensification of bilateral relations between the countries at the meeting with the President of Ukraine. At the joint briefing Saakashvili answered the questioned of journalists. He emphasized the threats of the Russia`s aggressive policy, which Georgia and Ukraine were facing.
`I can talk much about Georgia. With the funds allocated by the European Union, we have managed to revive our economics. We are establishing the most interesting infrastructure in the post-soviet area. We are planning very interesting projects. The energy sector is still prior for us and in this sector, we also have many novelties. If five years ago we were importing electricity power, today we are large exporter country and this is a great victory. The recognition of Georgia as the country which has overcome corruption is great help for us, because it attracts investors who want to implement large projects in Georgia,` president Saakashvili announced at the business forum.
http://rustavi2.com/news/news_text.p...main&ct=4&wth=
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Old November 28th, 2009, 01:41 PM   #6
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There is room for 1 million sheep in Georgia
By Messenger Staff
Tuesday, November 17
Georgian sheep breeding, which for the last 20 years has been in a dire situation, has all of a sudden started booming. Over the last few months Georgia has exported to Arab countries almost 200,000 sheep. President Saakashvili is very happy and thinks that in coming years sheep breeding will develop even further.

“The more sheep go from Georgia, the more pleased I am,” Saakashvili says. The same mood is observed at the Ministry of Agriculture. It thinks that selling large quantities of Georgian sheep will facilitate the development of industry and the agricultural sector in particular.

Economic analyst Paata Koghuashvili thinks however that interesting this process might be sheep breeding has certain limits in Georgia. He thinks that the maximum number of sheep Georgian farmers can afford to breed is around 1 million. It is impossible to breed more here because the available land area is so small, so this process needs to be cleverly regulated.
http://www.messenger.com.ge/issues/1..._econ_two.html
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Old November 28th, 2009, 01:44 PM   #7
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French businessmen in Georgia
By Messenger Staff
Tuesday, November 17
A delegation of French businessmen representing the largest employers association in France, MEDEF, is visiting Tbilisi at present. The French businessmen will meet members of the Georgian business community.

Having arrived on 16 November the delegation will spend the whole of November 17 in Tbilisi and leave for Baku the next day. The trip has been organised by French Ambassador to Georgia HE Eric Fournier. Representatives of twenty different companies in the fields of transport, energy, services, financing, infrastructure, healthcare and other branches are visiting Georgia.

The French Business Council will also join the delegation, whose members will visit different Ministries and eventually meet Prime Minister Nika Gilauri this evening. There will also be some bilateral meetings because some of the French guests have already established contacts with Georgian counterparts. A similar delegation visited Tbilisi 3 years ago, in 2006.

There are already certain French investments in Georgia. Societe Generale invested in and eventually purchased Bank Republic, Pierno Ricard has purchased the GWS wine producing corporation and Castel has established a brewery in Tbilisi.

President of the French Business Council Gilbert Hie told The Messenger that he is optimistic about the visit of the French businessmen to Georgia and hopes that some viable results will emerge from this visit for the mutual benefit of both sides.

The French Business Council promotes Georgia in France and visa versa. Hie thinks that it is of vital importance at this difficult time to support Georgia, in particular in helping it recover from economic crisis as soon as possible. Gilbert Hie thinks that some signs of recovery could become visible from 2010 but the impact of the crisis will last throughout 2010 and complete recovery will start in 2011.

The French Business Council is a non-governmental organisation created to facilitate further deep cooperation between businesses in France and Georgia. It promotes partnership, exchange of economic and statistical data, consultations with prospective investors, establishing commercial relationships, sponsoring different projects and so on. More than 50 companies from both countries are already the members of this organisation and Gilbert Hie, the CEO of Bank Republic, (a member of the Societe Generale group in Georgia) is the President of the organisation.
http://www.messenger.com.ge/issues/1..._econ_one.html
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Old November 28th, 2009, 01:45 PM   #8
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Businessmen from Qatar visit Georgia
17.11.09 14:18
Business authorities from Qatar intend to invest about 100 million dollars in Georgia - the sphere of their interest is mostly real estate. The businessmen arrived from Qatar to Georgia after the visit of Georgian president to the country.
The businessmen have already begun to look into the specific projects offered by Georgian side. The Minister of Economic Development, Zurab Pololikashvili introduced the details of the projects to the investors at the hotel Radisson today. The minister said the projects cover not only state owned objects, but several private investment companies as well.
Business delegation from Qatar will hold meetings with Georgian Prime Minister and afterwards they will leave for Adjara to view the investment environment in the seaside region of the country.
http://rustavi2.com/news/news_text.p...main&ct=4&wth=
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Old November 28th, 2009, 01:47 PM   #9
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New factory opened in Kareli region
By Etuna Tsotniashvili
Thursday, November 12
The world’s largest baby food producing company, Hippy, has opened a factory in the Kareli region village of Agara. The factory, which will export its production to Germany, will be able to process 300 tonnes of apples a day and around 200 local people are employed there. This factory will purchase half the apple resources in Georgia and Georgian farmers will not therefore have any further problem selling their apples.

The opening of the factory on November 10 was attended by President Saakashvili, who said that the Government had allocated funds for the factory a while ago but the money had been embezzled. However, the German investor had done everything necessary to ensure that the enterprise was opened so the Government ultimately did not need to give it money. “Building this factory was stalled for several years, because although the State did its best by giving money and credit, all this was wasted,” Saakashvili said.

The President said the factory was equipped with modern equipment and provided all the conditions to make products of superior quality. He also recalled the time when he arranged to meet the owner of HiPP GmbH & Co. Vertrieb KG, Claus Hipp, at a restaurant in Tbilisi in March in order to discuss investment opportunities but their meeting was disrupted by opposition protestors rallying outside the restaurant

“Just at this time our respected opposition came, although a real opposition would never do such a thing. For 45 minutes of our 50 minute conversation they shouted through loudspeakers, obstructing our conversation. If this man [Hipp] were less of a human being this factory would not exist and the apples would not have been sold, as he would have run away from here, which is exactly what they [the protestors] wanted… But this man did not run away, because he quickly figured out what was happening,” the President stated, adding that there are people who want everything to be developed and people to be employed and there are others who have everything themselves but want others to be badly off, who have not achieved this in this case.

The company purchased the factory after it was auctioned by the Georgian Government in April, 2009. Previously it was owned by businessman Gocha Dzasokhov, who left for Russia after coming into conflict with the Georgian authorities.
http://www.messenger.com.ge/issues/1.../1981_eto.html
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Old November 28th, 2009, 01:49 PM   #10
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EBRD to Invest $400 Million in Georgia in 2010 in Railway, Port Share Business Exchange Twitter
NOVEMBER 26, 2009
By Helena Bedwell

Nov. 26 (Bloomberg) -- The European Bank for Reconstruction and Development plans to invest $400 million in Georgia next year, including a project to improve a port bombed during the former Soviet republic’s August 2008 war with Russia.

The EBRD may invest $12 million to help build a new wharf at the port of Poti and $125 million in a railroad bypass around Tbilisi, Olivier Descamps, the EBRD’s business group director for Southeastern Europe, Central Asia and the Caucasus, told reporters in the Georgian capital today.

The bank will also invest in energy and water infrastructure projects, Descamps said.

Georgia’s $12.8 billion economy suffered about $1 billion in damage when its army was routed by Russia in the war over the separatist region of South Ossetia. Georgia won pledges of $4.55 billion in international aid in the wake of the conflict, including a two- year $1 billion offer by the U.S.

Rakeen, the developer owned by the Gulf emirate of Ras al- Khaimah, will begin in a few months to build “the biggest airport in the Caucasus” at Poti, which it acquired last December, Georgian President Mikheil Saakashvili said last month.
http://georgiandaily.com/index.php?o...5805&Itemid=74
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Old November 28th, 2009, 01:52 PM   #11
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Georgia Railway Telecom Sold for USD 14.3 mln
NOVEMBER 24, 2009
International telecommunications company, Linxtelecom, has bought 100% of Georgian Railway Telecom LLC for USD 14.344 million, the state-owned Georgian Railway LLC said.

Railway Telecom, which was auctioned on November 23, was established by the Georgian Railway to manage and operate the fiber optic network built all along the railroad of Georgia, covering the major part of the country.

Linxtelecom, headquartered in Amsterdam, is focused on telecommunications business in Eastern Europe, Baltic States and Russia.
http://georgiandaily.com/index.php?o...5770&Itemid=77
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Old November 28th, 2009, 01:53 PM   #12
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Georgia Will Become the Largest Auto Provider Soon
NOVEMBER 20, 2009
New initiative of the Ministry of Finance of Georgia- Georgia will become the largest auto provider in the region which means creation of main basis for auto providers.

Minister of Finance of Georgia Kakha Baindurashvili has announced the above mentioned initiative to biggest auto dialers in Georgia. On a meeting with dealers, Mr. Baindurashvili has got the information about Governments necessary activities aimed at supporting the above mentioned project. The Government will help auto dealers and will act as mediator between dealers and auto producers.

“We will support Georgian export and re-export. I think that Auto Business and whole transportation sphere is a very good beginning. It should become an example for other companies”. - said Mr. Baindurashvili.

As of Auto dealers’ words, Geographical situation of Georgia, liberal Tax and Customs Law will support the realization of the project and Georgian companies will become leaders and main providers in the region.
http://georgiandaily.com/index.php?o...5729&Itemid=77
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Old November 30th, 2009, 04:48 PM   #13
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President Saakashvili visits new enterprise in Kutaisi
30.11.09 17:20
Georgian president has arrived in the city of Kutaisi and viewed a new enterprise, which was constructed within the governmental program of Cheap Loans. The factory refines wood, produces textile product, dust protecting nets and filters. In the future, its management plans to begin producing uniforms for fire fighters and rescuers. The company also produces denims, which are already being sold in Azerbaijan and Georgia.
President was discontent with seeing a dump in a central district of the city and criticized the city mayor for it. He said such objects should be removed from the central regions of the city as son as possible.
Within the visit, president also visited the Torpedo Stadium, which is under construction now. The government has allocated three millions for the construction of the stadium, which will meet FIFA standards. It will have 15,000 seats. The closed pool and tennis courts will be also arranged at the Torpedo sport complex. The first phase of the construction will be over in summer 2010.
The Minister of Culture and Sports, Nika Rurua and the president of the Football Federation, Zviad Sichinava accompanied the president in Kutaisi today.
http://rustavi2.com/news/news_text.p...main&ct=0&wth=
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Old April 17th, 2010, 04:08 PM   #14
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Energy Minister: Georgia to build LNG terminal
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Georgia plans to build a liquefied natural gas (LNG) terminal. An intergovernmental memorandum on the construction of the terminal was signed between Romania, Georgia and Azerbaijan Apr.13 in Bucharest, Georgian Energy Minister Alexander Khetaguri said.

According to him, memorandum envisages the construction of a LNG terminal in Georgia, and a terminal for re-gasification in Romania. Azerbaijani gas will be liquefied in Georgia, and then will be delivered to Romania by tankers.

Some part of the gas will be used in Romania for domestic consumption, and some will be transported to Europe.

Location of the terminal will be determined by joint commission, which will work on a feasibility study.

Supposedly, the terminal will be built in the north of the city of Poti, perhaps in Kulevi.

"This is an important transit project. In the case of its implementation Georgia will receive additional revenue from transit, as well as additional amounts of gas," - Khetaguri said.
http://en.trend.az/capital/pengineering/1670567.html

Auction announced to sell gas from Ninotsminda Well
Quote:
The Georgian Oil and Gas Corporation announced an auction to sell gas from the Ninotsminda Well. One million cubic meters of gas are offered to the potential buyer.

The auction will start at a price of $205 per 1,000 cubic meters of gas.
The auction will be held April 20.
http://en.trend.az/capital/pengineering/1670666.html
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Old April 19th, 2010, 03:38 PM   #15
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Constructing steel in Georgia
APRIL 17, 2010
BUSINESS NEW EUROPE
Samantha Shields in Rustavi, Georgia

An Indian steelmaking joint venture in Georgia is hoping to spearhead the rejuvenation of the country's metallurgical industry and boost its economy by using local scrap metal to produce construction materials.

GeoSteel, a $60m mini-mill that melts steel scrap then rolls it into reinforcing bars for the walls of buildings, was opened by President Mikheil Saakashvili in November last year and has the capacity to produce 175,000 tonnes of material a year. "By using the locally available steel scrap that was being exported and was contributing very little towards the budget of the country and converting it into steel bars for construction, a great amount of foreign currency that is presently flowing out from the country can be retained," GeoSteel's president, Bipin Sharma, tells bne in an interview at the plant.

Rustavi is a faded steel town built under Stalin 35 kilometres southeast of Tbilisi. In its Soviet heyday, it smelted iron ore from neighbouring Azerbaijan into steel and employed tens of thousands of workers. Today, most of its factories and workshops lie idle.

The new mill employs 500 people, and a further 1,000 in spin-off services. It is 49% owned by JSW, India's third-biggest steelmaker, and 51% by UK-registered Georgian Steel Holding Group. The European Bank for Reconstruction and Development contributed $28m to its financing. "This steel plant in Rustavi is a step towards the revival of the steel industry of Georgia and towards improving the economic and social conditions of the residents of Rustavi," Sharma said.

Since the collapse of the Soviet Union and consequently Georgia's steel industry the country's scrap dealers have been collecting metal and exporting it to major steel producer, Turkey, through the Black Sea port of Poti. While market fluctuations might sometimes still make it more profitable for dealers to sell to Turkey, cheaper transport costs and easier logistics in Georgia mean GeoSteel will almost always be able to source the 200,000 tonnes of scrap it will eventually need each year domestically, Sharma said.
http://georgiandaily.com/index.php?o...8218&Itemid=73
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Old April 19th, 2010, 04:44 PM   #16
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Levan Varshalomidze visits the newly opened apiarist house in Chakvi

The apiarist house opens today.

The Chairman of Government and Minister of Agriculture of Adjara visited apiarist house today.

"The Gift of Nature" will service the customers in continuous mode. At the first stage the community business center will support 110 apiarists from 12 villages of Mtirala National Park and his buffer area in realization of honey. 80 tones of honey should be realized on international markets.

The Georgian product has been already brought on the markets of Switzerland, Germany and Norway. The European markets will be actively assimilated in the future.

Levan Varshalomidze tasted the honey of one apiarist and talked with attendants of "The Gift of Nature".

The beginner apiarists will be able to study and improvement of qualification in business center - "The Gift of Nature". The first buyer of Georgian honey appeared today in the apiarist house.

The owner of Sheraton Batumi Hotel attended in the apiarist house announced that hotel will buy weekly 10 kilograms of honey that will be tasted by foreign guests of the hotel.

The project was supported by international organizations and costs 48 thousand Euros.
http://adjara.gov.ge/eng/index.php?page=show&id=1461
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Old April 19th, 2010, 04:49 PM   #17
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The Chairman of government of Adjara visits the nursery garden of some kind of flowers, palms and evergreen trees situated in Chakvi

"Phasis Plant" Ltd is functioning in Georgia from 2008. The owners expanded the nursery enterprise this year and arranged the exhibition plot near the highway of Chakvi.

The customers can buy the plantations on the place. 34 employees are working continuously in the enterprise. At this stage the whole investment executed in Adjara amounts 2 mln lari.

800 bamboo plantations brought from Vietnam, Thailand and China are planted here. Other plantations are brought from Italy and Turkey. The foreign tourists visited the enterprise today and bought some plantations of evergreen flowers.
http://adjara.gov.ge/eng/index.php?page=show&id=1462#
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Old April 20th, 2010, 11:08 AM   #18
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The Minister attended the opening of new tourism company “Airzena Holiday”

The Minister of Economic Development of Georgia Zurab Pololikashvili attended the presentation of new tourism company “Airzena Holiday.”

“Airzena Holiday” is the foster company of “Airzena – Georgian Airways.” The company will offer tourism packages to customers from the end of April. The presentation was held in “Radisson Blu Iveria” and was attended by the Minister of Economic Development, also the Head of Department of Tourism Zaal Abazadze, and the representatvies of the Turkish partner company of “Airzena” “Time Service.” “Airzena Holiday” will offer its firts packages in Turkey.

Hotel network “Gloria” is the partner of the company in Turkey. The Minister of Economic Development told the journalists that the creation of a new company on the tourism market is a positive event. The growth of competition in this segment will increase the flow of tourists in Georgia.

“We welcome such events, our county is open to everyone – it will be good if other countries besides Turkey enter the Georgian tourism market. The more tour operators we have on the market the better it is for tourism” – said the Minister.
http://economy.gov.ge/?category=4&lang=eng&item=222
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Old April 20th, 2010, 11:17 AM   #19
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International investors seek opportunities in Georgian hydropower
The end of the Soviet Union created new borders between Georgia and the vast oil and gas riches of some of its larger neighbours, mergermarket reports. The authorities of this small country in the Caucasus could be forgiven for looking enviously towards commodity-rich states such as Kazakhstan, Azerbaijan and, of course, Russia. But instead of lamenting what it doesn’t have, Georgia is striving to take advantage of what it does have – water.

The Georgian government is in the middle of a big push to attract foreign investors into its rapidly-expanding hydropower sector. Mariam Valishvili, First Deputy Minister at Georgia’s Ministry of Energy, told this news service that the government is looking for international companies to enter the sector. The country currently has over 90 hydropower projects in the pipeline, and Valishvili highlighted two of the larger examples.

Mtkvari is a three-cascade plant with the potential for 220MW of capacity. Strategic investors buying into the project will have to commit around USD 600m. The government is prepared to allow full ownership by one or several outside investors. Verbund, the listed Austrian energy company, was named as a potential participant for the Mtkvari project by a government source but a company insider denied involvement.

The second is the four-cascade Achiristkali project. It will cost around USD 250m to complete and will also be above 100MW. Achiristkali is also 100% for sale to one or more investors.

The Georgian government is being advised by Econ Poyry on part of its tender programme. Both projects are currently inviting expressions of interest.

Turkish companies are some of the most competitive bidders in the race to secure Georgian hydro projects, a source revealed. It is understood that Kolin Insaat, the Turkish construction company, and Limak Holding (Limak Enerji), the Turkish conglomerate, are interested in the sector. Another Turkish company believed to have shown interest is Anadolu Industrial Holding Group, parent company to Anadolu Efes, the listed Turkish beer and soft drinks company. A company insider at Anadolu Group would only say they are looking at a four-year timeline for the project. Company insiders at Limak Enerji did not deny its bid but declined to comment for the time being. Kolin Insaat could not be reached for comment.

Energy from the new hydropower plants will be targeted for sale in the Turkish market, according to Valishvili, which explains the high level of Turkish interest.

An important factor in attracting strategic investors to Georgian hydropower is the construction of the new Black Sea Transmission Line, which is due to run from the Azeri border in the east to Turkey in the west. It will be a second major line for Georgia. One of the organizations financing it is the European Bank for Reconstruction and Development (EBRD).

“Diversification is critical,” explained EBRD Director for the Caucasus, Moldova and Belarus, Paul-Henri Forestier. “Right now the transmission line that exists is not getting anywhere near Turkey…you have a main line from the Abkhazian administrative border and that line goes from the northwest and across the whole country…you have power cuts quite often because you are depending on one single line.”

The new line not only represents increased revenue for the government from sales to Turkey, but also better reliability and security of supply for Georgia. The operators of the hydropower facilities will be required to supply the Georgian market in the winter months, providing shareholders with dedicated volumes at predictable prices, he said.

Inter RAO UES, the listed Russian power supply company, said it was already committed to constructing several Georgian hydro plants, although sources believe it could take on other projects. The listed Korea Electric Power Corporation (KEPCO) has already signed an MOU with the Georgian government on a USD 1bn hydropower project in Namakhavani. And a spokesperson revealed the company intends to extend its partnership in power generation, power supply and power transmission.

The sector is also attracting interest from North American companies, with AES (NYSE: AES), the Arlington, Virginia-based electricity generator and distributor, understood to be interested. The company did not return calls requesting comment.

Canadian energy company, Carthage Energy, has also expressed interest, sources said.

CEO Mark Beacom confirmed Carthage Energy has been looking at investment opportunities in Georgia for the last two years. The company is looking at acquiring hydropower sites and is taking a cautious approach. ”We’re trying to get a decent inventory,” he said. Carthage is dealing with a Georgian bank and does not plan to retain any other advisors for this purpose, he added.

The United States Agency for International Development (USAID) has seen further interest in hydropower projects from US and Canadian companies, including from private equity players, Director of Energy and the Environment in Georgia, John Hansen, said in an interview with this news service.

Hansen said USAID is at the nascent stage of its involvement with hydropower in Georgia, but the organization wants to see sites totaling 400MW or more under construction in the next three years. He added that the drive to boost the hydro sector represents great potential for Georgian GDP.

The major challenge for the Georgian government as it pushes forward with its hydropower ambitions is to convince investors that the security situation in the country is stable; a difficult task with memories of Russian tanks advancing on Tbilisi in the recent conflict still relatively fresh. But one development bank source highlighted a fact that could provide some comfort to hydro investors.

“During the conflict, Russia could have turned off the electricity in Tbilisi,” he said, “they never did it…Georgia is selling electricity to Russia and it is in nobody’s interest to start interfering in the existing arrangements.”

A source close to the government explained that Georgia is hoping to bring in USD 10-15bn into the hydropower sector in the next 10-15 years. Georgia’s ability to convince investors that hydropower is a safe bet could prove key to hitting that target and regaining the levels of economic growth it so successfully achieved in the last decade.
http://www.ft.com/cms/s/2/fae59c9c-3...b5df10621.html
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Old April 20th, 2010, 11:19 AM   #20
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Quote:
LG Assembly Plant Planned for Georgia’s Poti Port, Gilauri Says

By Helena Bedwell
March 24 (Bloomberg) -- A unit of Aray Group plans to build a plant in Georgia’s special economic zone at the Black Sea port of Poti to assemble LG Electronics Inc. products, Georgian Prime Minister Nika Gilauri said today.

Shalva Beraia, a spokesman for the economic zone, confirmed that an agreement had been reached with Aray Tomorrow, and said construction would begin when the zone officially opens at the end of May.

Giorgi Eriqashvili, an official at Aray’s Georgian unit, declined to comment immediately on Gilauri’s announcement. Dubai-based Aray Group, is involved in purchasing, sales,promotion and marketing of electronics and home appliances, and has “very strong business relationships” with companies including LG, according to the Aray Web site.

Rakeen, a developer owned by the Gulf emirate of Ras al-Khaimah, paid $65 million for 49 percent of the Poti port in December 2008, after previously winning a government competition to develop the port and acquiring a 51 percent stake. It is also set to build an airport in Poti.
http://georgiandaily.com/index.php?o...7866&Itemid=74
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