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Georgia's Silk Road Group talks ongoing projects

Construction Materials 20 May 2020 19:56 (UTC +04:00)

BAKU, Azerbaijan, May 20

By Tamilla Mammadova – Trend:

Currently, Georgia's Silk Road Group investment company is working on updating rooms at the Radisson Blu Iveria in Tbilisi, as well as arranging a pool and sports complex at the company's Radisson Collection hotel in Tsinandali, representative of Silk Road Group Nina Kheladze told Trend.

"In parallel, we are working on the design of the Silk Towers complex in Batumi and the Telegraph hotel in Tbilisi," she said.

Silk Road Group was forced to postpone construction of the Silk Towers Batumi, which was scheduled for March this year, until a later date due to the pandemic, Kheladze noted.

"The total budget for the reconstruction of the former Telegraph building in Georgia is 55 million euros. The Danish IFU investment company provides a capital of 15 million euros. The rest of the financing is planned to be attracted from Georgian and foreign banks and negotiations with them are underway," she said.

Silk Road Group is a private investment company, owned and run by Georgian and European partners. It was founded in 1997.

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