Georgian Co-Investment Fund to contribute to reduction of agricultural products import
Tbilisi, Georgia, March 26
By Nana Kirtzkhalia - Trend:
Two projects in the area of agriculture have been presented to the Georgian Co-Investment Fund. These include a dairy farm and processing plant, as well as a greenhouse economy, according to the Fund's Executive Director George Bachiashvili.
The total cost of the two agricultural projects is $59.3 million.
The dairy farm and the processing enterprise will be constructed in Western Georgia. The project is being implemented in cooperation with a leading Dutch company for production of dairy products using the Friesian breed of cattle. The farm is planned to include 2000 cows and the production volume will be 50 tons of milk per day.
Under the project there will also be a high-tech processing plant constructed that will receive and process 100 tons of milk per day. With its scale and quality this project will contribute to a reduction of dairy product imports by 25 percent and provide nearly 400 jobs.
"With the implementation of this project, investments in Georgia's agriculture will be equal to $45 million," the Co-Investment Fund said.
Regarding the greenhouse economy, the Fund said that the related project will be implemented in Gardabani jointly with a French company. It will cover an area of 0.4 hectares and mainly specialise in the cultivation of tomatoes.
The production capacity of the greenhouse economy will be 4.5 tons of tomatoes per year. This project will allow a reduction in the import of these vegetables by 30 percent and provide around 100 people with work. With the implementation of this project, investments in Georgian agriculture will amount to $14.3 million.
It is planned to implement these projects by late 2014, the Co-Investment Fund said.
Translated by L.Z.
Edited by S.M.