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Turkish company invests in production of copper, aluminium wires in Georgia

Construction Materials 15 July 2020 20:40 (UTC +04:00)
Turkish company invests in production of copper, aluminium wires in Georgia

BAKU, Azerbaijan, July 15

By Tamilla Mammadova – Trend:

Minister of Economy and Sustainable Development Natia Turnava officially opened a new enterprise producing of copper and aluminium wires in Tbilisi, Trend reports with reference to the ministry.

Over 100 people have been employed and 15 million lari ($4.9 million) has been invested in the enterprise established by Turkish Koç Kablo company with the support of the Produce in Georgia program.

Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili, Director of Produce in Georgia Agency Mikheil Khidureli as well as other officials and business representatives participated in the opening ceremony.

“The new enterprise is high-tech and competitive, and what is most important, it will export its products. The enterprise was established with the support of the state within the framework of the program Produce in Georgia, and it already employs 100 people while in the future, this figure will double,” Turnava said.

She noted that is a foreign direct investment made by one of the most experienced Turkish companies.

"It is very important for us that despite the difficulties emerged due to the pandemic, such new enterprises are still established, which employ our citizens and strengthen Georgia’s export potential,” the minister added.

The company was given a 9,502 m2 plot of land in February 2018 under the Produce in Georgia program. The enterprise mainly produces the product for foreign markets. The company has currently received large orders from Burkina Faso and Ghana, and is holding negotiations with the UK and the Gulf countries.

The enterprise, after developing its full production capacity, will employ over 250 people. Its production capacity per year shall reach 12,000 tons of copper and aluminium worth 300 million lari ($98.2 million).

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