Georgian Co-Investment Fund to Invest $2 Billion

According to the government administration, the Co-Investment Fund will invest $2 billion in Georgia by the end of 2017.

The following projects are financed by the Co-Investment Fund: the hydroelectric power plant Mtkvari, Tskhenistskali and Oni; a dairy farm and milk processing factory; Gallery Tbilisi; a Hotel and fitness center in Shekvetili; Panorama Tbilisi; the Hotel Axis Towers; a high-level computer data center.

The projects implemented by the Ministry of Agriculture were discussed at the Economic Council. The Ministry of Agriculture carried out $1.8 billion worth of projects from 2013-2015.

The rehabilitation of 87 melioration infrastructures was implemented from 2013-2015, the total cost was ₾62,000,000. Cheap credit was used by 16 thousand beneficiaries, incurred 68 million GEL with so-financing of state interest expense.

Forty-nine melioration systems will be rehabilitated in 2016, 139 new agricultural factories will also be funded where 2,992 people will be employed. The total investment is $102 million.

With state co-financing, 15-20 processing factories will open in 2016. In 2013, 2014 and 2015, 800,000 small land owners received more than $306 million in profits from land cultivation and for buying agricultural products. More than 210,000 ha of land is cultivated every year. 100-150 beneficiaries will receive additional benefits for promoting cultivation of modern gardens.

Beginning in 2016, tea production is planned by a two stage project. 3.5 million GEL will be put into rehabilitating plantations in 2016. Three years after the project, 1,500-2,000 tons of additional Georgian tea will be produced annually.

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12 November 2015 18:53