Egyptian Fresh to invest $1.3 bln in 12 plants in Kutaisi

Business Materials 2 April 2009 14:37 (UTC +04:00)

Georgia, Tbilisi, April 2 / Trend , N.Kirtskhalia/

Egyptian businessman Ibrahim Khalili will invest $1.3 billion in Georgia, Georgian Economics Minister Lasha Zhvania said at a briefing.

"This project does not have any analogues in Georgia," Zhvania said.

Khalili owns 9 electric and social goods plants in Egypt.

"Khalili is head of Fresh and intends to open 12 plants in Kutaisi," Zhvania said.

On April 4, Khalili will arrive in Georgia to register the company.

"The ceremony to construct the plants will be attended by Georgian President Mikheil Saakashvili on April 8," Zhvania said.

Last year, Fresh exported products to 52 countries and its net profit hit $1.95 billion.

"This is not only investment and budget revenues, but new jobs. Roughly 2,500 people will be provided with jobs, and the number of workers will be increased to 12,000-15,000 after the plants start operating," he said.

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