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Georgian MPs were introduced the biggest investment project2009-04-03 17:43
Today Lasha Zhvania, the minister of economic development delivered a speech a the joint meeting of the Finance and Budget Committee and Field Economy and Economical Policy Committee of the Georgian Parliament.gt-en-newsitem-inside
He introduced the MPs with the details of one of the biggest investment projects of the recent time to be implemented in Kutaisi by the Fresh [Egyptian company].
According to the minister, at the first stage [about 1.5 years] the investments will amount USD 1 200 800 000 долларов, and will exceed USD 3 bn within three years.
The memorandum of mutual understanding will be signed between the Georgian side and the Egyptian investor on April 6th. According to the tentative information, a free industrial zone will be established in the territory of the Kutaisi automobile plant. The project implies building 12 plants to manufacture furniture, textiles, ceramics, various objects of everyday use and other products.
2500 people will be employed at the first stage, at the second - 12 000 to 15 000.
The Egyptian investors were brought to Georgia by Mikheil Tigishvili, the businessman who was living and working in the USA for 15 years and with US Senate certificate for his contribution in economics development of New-York state.