BAKU, Azerbaijan, Feb.21
By Tamilla Mammadova – Trend:
A secondary plastic processing plant will be built in the Khobi municipality of Samegrelo-Zemo Svaneti region in Georgia, Trend reports citing Georgian media.
As reported, Global Recycling Inc., which was founded by the Dutch company H.I.P. Trade, acquired a land plot in Khobi through an auction in the framework of the state project "100 Investment Proposals for Business". The total investment in the project exceeds 30 million lari ($10.6 million).
The company will employ about 500 people.
The polymer granules produced at the enterprise are planned to be sold both on the local and foreign markets.
H.I.P. Trade also plans to develop a free industrial zone and attract foreign companies involved in the processing and production of polymers. As a result, a full production chain of new export products will be created on the spot.
The project "100 Investment Proposals for Business" has been implemented in Georgia since the fall of 2019. Some 45 objects worth 48.8 million lari ($17.2 million) have been sold in the framework of the program.
Within the framework of the project “100 Investment Proposals for Business,” initiated by the Ministry of Economy and Sustainable Development of Georgia and the National Agency for State Property, the agency offered over 100 commercially attractive facilities for privatization in late November 2019 to simplify bureaucratic procedures,
The list of properties includes state property in 45 cities and municipalities of Georgia: industrial facilities, warehouses and greenhouses, medical facilities, sports infrastructure, hotels and other state property of interest to developers.
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