$15 million to be invested in Kutaisi FIZ
Georgia, Tbilisi, Sept.27 / Trend, N. Kirtskhalia /
An additional $15 million will be invested in the Kutaisi Free Industrial Zone, government sources said on the day a memorandum with a company that plans to produce household appliances in the zone will be signed.
A textile factory, built by Egyptian investors, and a metallurgical plant, financed with Ukrainian-Indian-Georgian investment, will also be built in the Kutaisi FIZ.
In addition, from late September, Egypt's FRESH Electric Company will begin production of household appliances in the zone. Until now, its household appliances were assembled from imported parts.
FRESH entered the Georgian market in April 2009. It should initially should $1.2 billion in the Kutaisi FIZ.
Due to the additional investments in the Kutaisi FIZ, FRESH will finalize a memorandum today. The event will be attended by the Georgian Government's representatives.
The project envisages construction of 12 plants of different profiles.