Issue #760

03.04.15 - 09.04.15


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Modern Greenhouse to Open in Gardabani

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The village of Kapanakshi in Gardabani municipality will soon have a 35 ha greenhouse equipped with the most modern technology, the grand opening of which is planned for April.

The Georgian Co-Investment Fund (GCF), a private equity fund supported by ex-Prime Minister Bidzina Ivanishvili, has bought land for an estimated 2.5 million Lari, within the framework of the governmental project Produce in Georgia. Additionally, in order to secure investment obligations, the Fund has provided a bank guarantee of 980,000 Lari, and attracted another $2.6 million of credit.

According to Giorgi Bachiashvili, the CEO of the Fund, the project was launched in September last year, together with co-investor company Richel Group. The construction of the first phase has already been successfully completed. Within 6 months of the start of the project, a 44,000 sq. meter greenhouse has been built to employ up to 108 local residents.

As Bachiashvili stated at the briefing on March 25, the project involves French, Georgian and Ukrainian agro engineers, biologists and technologists. Machinery and vegetables are imported from France and Holland.

The second stage of the construction will involve an additional greenhouse covering 85,000 sq. meters with 20 million Lari investment. Therefore, by September, the volume of greenhouse-covered area is expected to triple, while the number of employees should reach 200 people.

“This means that millions of Lari will be given to the budget. And I assure you that imported products can’t compete with what is produced here, on Georgian soil,” he stated.


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