BAKU, Azerbaijan, June 6
By Tamilla Mammadova - Trend:
Two new mega-center projects for construction and repair materials of the Nova company were implemented with the support of the European Bank for Reconstruction and Development (EBRD) and the TBC Bank in Georgian Tbilisi and Batumi, Trend reports via the Ministry of Economy and Sustainable Development of Georgia.
As reported, arranging the mega-centers required a total of 3 million lari ($1.01 million).
Around 7,500 square meters of land was allocated to the Nova to build a new enterprise. The company invested $4 million to develop its production capacity while $2 million was co-financed by the Enterprise Georgia.
Currently, 430 people are employed in the company’s enterprises, exhibition halls and warehouses, and 120 people work in Tbilisi and Batumi shopping centers.
“Encouraging local production is a cornerstone of our economic policy, which is especially important in the post-crisis period,” Minister of Economy Natia Turnava stated at the opening of the Nova’s new mega-center for construction and repair materials.
“Nova production is supported within the Enterprise Georgia state program and we, in general, will put a lot of emphasis on supporting the production based on our own resources. The building materials industry is one of the areas where we can use our own resources to significantly reduce our dependence on the imports, supply our own market and increase the export volumes,” the minister of economy said.