The Partnership Fund Opens Panex Plant

The Partnership Fund, together with local company Industrial Construction Engineering Solutions (ICES), has completed a ‘sandwich panels’ project and opened a production plant. The plant built in the frame of this project will produce polyurethane sandwich panels used only in industrial constructions.

“For the construction sector it will be a relief, as using such panels in construction will reduce expenses for construction companies and will replace imports. I think that the implementation of such projects is vital for the strengthening of our economy,” said Irakli Kovzanadze, Executive Director of the Partnership Fund.

Standard Polyurethane Sandwich Panels are building panels produced by injecting polyurethane foam between two galvanized ribbed metal sheets. It is the best material for cold and freeze stores, warehouses and production places; and commercial and residential booths. It is also the best heat isolation material for siding industrial buildings.

Georgian Prime Minister Irakli Garibashvili, who also attended the opening ceremony, expressed his hope that local production will reduce the expenses of industrial construction. “Such production is very new for us. I believe it [the production] will relieve our construction sector, as our companies will be able to buy products locally,” He said.

The plant is located on Rustavi highway and is equipped with modern Italian technology. The capacity of the plant will be 2.8 million square meters of panels annually. Around 60% will be sold locally, while the remainder of the production will be exported abroad to Kazakhstan, Azerbaijan, Ukraine and Russia. The Partnership Fund started to implement this project together with ICES in 2014. The total investment sum is USD $6 m and the Partnership Fund’s participation in the project is 49%.