Two New Factories to Be Established with State Support

Published in Economics
Friday, 24 March 2017 10:45

Two new factories will be established under the Produce in Georgia state program.
To launch a non-noble metal producing factory in Kutaisi, the state will allocate land to the investor who will additionally enjoy every mechanism under the program, including subsidized loans and bank loan cosigning.
Some 1,360,000 GEL will be invested and 60 people will be employed at different stages of the project.
A metal production plat will be established in Tbilisi, with 4,000,000 GEL in investments and 30 people employed at the initial stage.
At today's Government meeting, the Prime Minister also spoke of the Gemuani fruit processing plant that opened yesterday in Zugdidi with support offered under the United Agro Project state program. The plant employs an innovative processing technology that allows for keeping 98% of the vitamins and microelements after treatment.
"It is a unique method that enables us to process both top and relatively low quality fruits subsequently to be sold as dried products. The plant's products for the next year are practically preordered by Near eastern countries, the UAE, and several European countries," the Prime Minister said and congratulated the Ministry of Agriculture on the implementation of this important project.
Giorgi Kvirikashvili also believes that it is beneficial to adopt this technology in other regions as well.
Overall, 851,024 USD was invested in the plant, of which 250,000 USD as a grant and 484,512 USD as an affordable agro credit.
The state also allocated immovable property to the plant, including an abandoned production facility that has been renovated to meet modern standards. The enterprise directly employs 35 workers, with 150 farmers contracted to supply products.
"This means that, besides 35 families of those employed directly, additional 150 households have a source of income, given that each farmer equals one household, though there may be more. Thus, this enterprise gives good return on investment," Giorgi Kvirikashvili emphasized.
According to the Prime Minister, the public is often unaware of the many good endeavors accomplished under the Produce in Georgia program, which is why he instructed the Cabinet members to inform the country's rural population about these success stories during their visits to the regions.

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