Georgia’s co-investment fund launches five projects worth $1.3 billion
Tbilisi, Georgia, March 25
By Nana Kirtzkhalia - Trend:
Georgia's Co-investment Fund has launched five projects at a total cost of $1.3 billion.
These investment projects cover the areas of tourism, real estate, energy and agriculture, Executive Director of the fund Giorgi Bachiashvili said during the projects' presentation on March 25.
The participants were presented with the priorities of each project individually.
The Panorama Tbilisi project is being implemented in the area of tourism and real estate which is costing half a billion dollars, according to Bachiashvili. The main investor in this project is former Georgian PM, Bidzina Ivanishvili.
Two projects were presented in the energy sector. The investment cost of the Mtkvari HPP construction makes up $100 million and that of the hydropower cascade on the River Tskhenistskali will cost $679 million.
The fund plans to implement two projects in order to promote sustainable agriculture and rural development. According to the plan, a plant will be built for the production and processing of dairy products in western Georgia, to which will be allocated $45 million with a second project amounting to $14.3 million dollars envisaging the opening of greenhouse farming in eastern Georgia.
Almost all projects are ready for commissioning, according to the executive director.
Translated by S.I.
Edited by S.M.