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Daily Archives: November 4, 2016

Gudauri will Have an Artificial Lake Next Year

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“Gudauri will have an artificial lake next year” –declared Sandro Onofrishvili, the head of resorts development. The tender concerning building artificial lake will be announced in Winter and they will start the project in Spring. It costs 20 million GEL. “Artificial lake will enable us to open the season earlier, …

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The Main Interest of Japanese Businessmen is to Start Business in Georgia

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Japanese Foreign Trade Organization (JETRO) was invited to Georgia by Georgian National Investment Agency to meet the government representatives and have business meetings with private sector. According to the information by the Ministry of Economy and Sustainable Development, the minister met JETRO representatives and presented to them the investment environment …

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“Rixos Borjomi” has a New General Director

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Rixo Borjomi has a new general director.  According to member of hotel supervisory council, Shalva Alaverdashvili, a new general director is from the US.  There has not been other kind of changes in the management or in a hotel staff. There has been a new management structure organized in “Rixos …

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Georgian Students to Produce “Georgian M&M”

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Georgians students, who came up with an idea to produce Apple Chips, decided to add a new product to their business plan and produce “Georgian M&M”. As the author of the idea, Shalva Mdzinarashvili declared, Georgian customers will see apple chips on the market by New Year. In addition, there …

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Direct Cargo Communication to Start between Ukraine and Georgia

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Direct cargo communication line will start this month between Ukrainian port “Iliechevski” and Batumi, Georgia. Cargo ships will be on the line each week, which will decrease the transit costs and time. Currently, the cargos are taken through Turkey, where they transfer the cargo to terminal and only afterwards to …

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Azerbaijan, Romania Discuss AGRI Project

Azerbaijan, Romania Discuss AGRI Project

The Azerbaijan-Georgia-Romania Interconnector (AGRI) project was mulled by Azerbaijan’s Energy Minister Natig Aliyev and Romania’s ambassador Dan Iancu in Baku, Azerbaijan’s Energy Ministry said Nov. 3. “Important steps are being taken as part of energy cooperation to implement the AGRI project, designed to supply Azerbaijani gas to Europe via Azerbaijan-Georgia-Romania-Hungary …

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Factors Behind the Georgian Lari’s Depreciation

Factors Behind the Georgian Lari’s Depreciation

National currency continues its free-fall. Economic experts believe that the lari depreciation was caused by the domestic economic problems. The head of the Accumulation Management Company Private Banking, economic expert Irakli Berdzenadze says in his interview with Commersant that the cause for the depreciation of the lari is the country’s …

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Construction Work at Baku Refinery to Start in March 2017

Construction Work at Baku Refinery to Start in March 2017

Construction work on the territory of Heydar Aliyev oil refinery in Baku will commence in March 2017, Tofig Gahramanov, the SOCAR vice-president for strategic development, told reporters in Baku. The FEED project (Front End Engineering Design) on new installations will be finished in December, said Gahramanov. The all-factory (including buildings, …

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