Issue 4, 2014. August-September

   

INVESTMENT NEWS

A brief list of major investments in Georgia as reported by Georgian media. If you have any investment tips or projects you would like to include in the list for the next issue, please contact amcham@amcham.ge.

EU Commits to €330-410 million (780-970 million GEL) in Assistance

The EU has pledged to provide Georgia with up to 970 million Lari from 2014-2017 to help finance the country's democratic reforms, Georgian media reported on July 18. The funds are part of two deals that were signed between Tbilisi and Brussels with Georgia to ratify the country's Association Agreement with the EU: Single Support Framework (SSF) 2014-2017 and The Financing Agreement for the European Neighbourhood Program for Agriculture and Rural Development (ENPARD), agenda.ge reported.

Georgian Government Announces New Anaklia Port Project

Georgian Prime Minister Irakli Gharibashvili formally launched the state's new program for developing Anaklia Port on July 10, Georgian media reported.

"It is very important that the Anaklia Port is able to receive large sized Panamax and Post-Panamax ships. The Port will be able to process more than 100 million tons of mixed cargo. This is a really large scale and undoubtedly gives Anaklia the basis to become a crucial logistical hub for Caucasia and Central Asia," he said during the presentation.

34 Hour Cargo Transport to Azerbaijan

A Poti-Baku cargo train route was restarted on July 15, Georgian media reported. The route, known as the Silk Bridge, will cut transport time for cargo from "several days" to just 34 hours, agenda.ge reported on July 17.

The train will operate on Tuesdays and Saturdays, agenda.ge quoted Levan Jgarkava, the director of Trans Caucasus Terminals LLC, as saying.

The route, which will eventually extend to Central Asia and China, will be operated by a German company through an agreement with Trans Caucasus Terminals and Azerbaijan Railways, the website said.

Trans Caucasus Terminals is a part of Georgian Railway.

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