Issue 3, 2013. June-July

   

INVESTMENT IN BRIEF

Avtandil Chedia

Forex Club to Operate in Georgia by the End of the Year
One of the world's largest brokerage companies «Forex Club» is in negotiations with Green Capital to open in Georgia this year, according to a report on Commersant radio.

New Agro-Industrial Complex in Kakheti
On May 9, an agro-industrial complex opened in the village of Badiauri in the eastern region of Kakheti. The event was attended by officials from the Ministry of Agriculture and the MOLI project. The complex, a $265,000 investment by the Swiss Agency for Development and Cooperation, includes a milk factory and a refrigerator which has the capacity to store 250 tons of various kinds of fruit.

Ukrainian Company to Build Laundry Detergent Plant in Poti Industrial Zone
Aroma Fragrance, a Ukrainian company, has invested $800,000 in a new laundry detergent plant in the Poti Industrial Zone, according to a report on Bpi.ge.

Turkish Entertainment Powerhouse Enters Georgian Market
Reina - a Turkish entertainment group - plans to build a hotel, restaurant, club and casino complex, according to boom.ge. The $25 million investment will employ 240 people.

EU Helps Small Farmers in Adjara
The EU, together with the United National Development Programme (UNDP), is planning a 3.3 million EUR agricultural development project in Adjara. The project, which focuses on the promotion of small-scale farms, will last from 2013-2016.

Ministry of Energy of Georgia, Anadolu Group Signed MOU for HPP project
Anadolu Group plans to invest $125 million to build a new 300 megawatt hydro power plant.
At this stage, the Turkish company is making investments in the Samtskhe-Javakheti Region for an 85 megawatt HPP. The HPP will annually generate 420 million kilowatt-hours. The company employs 630 persons.

Three New Airlines to Enter Georgian Market
"Air Onix Airlines" and "Israir Airlines" plan to enter the Georgian air market this year. In addition, negotiations are also underway with the airline "Nouvelair", which will provide charter flights to Tunisia.

Azeri company to build HPP
TunderStrik has expressed interest in developing Ponichala1, Ponichala 2 and Digomi hydro power plant projects in Tbilisi on the Mtkvari River. The company already submitted an application to the energy ministry, according to the ministry. The approximate investment for all three projects is about $100 million.

Georgian Wine Wins Grand Gold at Concours Mondial 2013
Chateau Mukhrani won the Grand Gold Medal for its Reserve Du Prince Saperavi 2007 and a gold medal for Rkatsiteli 2010.
The Concours Mondial annual competition is considered the wine world championship. Started in 1994, over 7000 products from four continents participated this year.