“Geo- Live” company is building the first olive processing plant in Georgia. All necessarily equipment has already been ordered in Europea. Construction of the building has commenced.
According to George Svanidze, “Geo- Live” founder, Georgia’s first olive processing plant will be completed by the end of 2015, and the company will spend GEL 1 million for this purpose. The company will employ approximately 20-25 people. Italian specialists will assist the Georgian specialists in the initial stage.
In Svanidze’s words, in Georgia the land is ideal for olives cultivation, all equipment will be of the European quality. Therefore, the plant will produce high-quality products and compete with imported olives.
Due to the strengthening dollar, transportation costs for imported products will increase that puts local production in an advantageous position with regard to prices. It should be noted that last January olives price soared 30 percent due to poor harvests in the world that could arouse interest of Georgian businessmen in olive business.
“Geolive” is engaged in olive business in Georgia for several years. Last year “Geo Live” produced 10 tons of olives despite the bad weather. The company has planted olives in 300 hectares and is going to expand in the future. George Svanidze notes that in the initial stage olive oil and olives produced in Georgia will be sold on the local market, and then are planned to be exported to Ukraine, Spain, Russia, Armenia, etc.