INVESTMENT IN BRIEF
New Malls for Tbilisi
Radio "Kommersant" reported that Grato Center City is set to open in Tbilisi. The $1.5 million complex was funded by local investments. In addition, East Point, the city's first outdoor mall, is slated to open in 2014 on the Kakheti Highway, according to a report in Georgia Today. East Point, a $50 million project, is being developed by London-based Quadrum Property Group's Georgian subsidiary CBD Development.
Georgian Wine Company Receives $2 million Loan from OPIC
Wine producer Teliani Valley has received $2 million from the US Overseas Private Investment Corporation (OPIC) as a second tranche of an $8 million loan. The financing will be used to develop processing equipment, purchase new vineyards and increase export, hvino.com reported.
French Master of Wine Creates Georgian Wine Label
Isabelle Legeron, the Travel Channel journalist who hosted a series on Georgian wine last year, is introducing her own version of Georgia's traditional kvevri wine, Lagvini, in London this year..Legeron is the first French female Master of Wine, as well as Travel Channel journalist and host.
WPP Enters Georgia
The world's largest marketing communications company WPP is coming to Georgia. Its local partners will be "Pro Media" and "Spot Media" which were created in 2011. WPP operates in 110 countries, and employs more than 165 000 people. In 2012, and for the second time, WPP was recognized as Best Company of the Year at Cannes Lion international Creative Festival.
2012 Enterprise Turnover 11 Billion Lari
According to the National Statistics Office of Georgia, in the IV quarter of 2012, the total turnover of enterprises was 11 billion GEL, and the total production release was 5.8 billion GEL.
"Tata Group" to Invest in Georgia
India's Tata Group may invest in a hydroelectric power project in Georgia after meetings with the Georgian Prime Minister Bidzina Ivanishvili, in Davos, Switzerland. Businessweek.com reported the project is estimated to cost more than $600 million and the proposed plant will have up to a 400 megawatt capacity.
Azerbaijan Allocates Over $430 million
Azerbaijan has assigned a loan of $775 million for the construction of the Georgian section of the Baku-Tbilisi- Kars railway project. To date, the State Oil Fund of Azerbaijan (SOFAZ) has allocated $431.3 million towards construction of the railway, according to a statement posted on the official website of the Fund.
EU to allocate 40 million Euros to Georgia
The European Union plans to allocate 40 million Euros towards the financial support of Georgia. The financial agreement was signed on March 13 at the State Chancellery between the Minister of State in European and Euro-Atlantic Integration Alex Petriashvili and Head of the EU Delegation to Georgia Philip Dimitrov.
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