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Israeli Companies to Spend 50 million USD on Arranging Fish Farms in Georgia

Partnership Fund of Georgia has signed an understanding memorandum with two Israeli companies –  Aquamaof Aquaculture Technologies and  JVS I.G. Capital Investment.

The memorandum calls for arranging fish farms in Georgia and equipping them by new technologies, where several varieties of fish will be produced for both domestic and foreign markets. Employed specialists will be trained due to international standards. Jointly with Partnership Fund, two Israeli companies will spend 50 million USD on arranging a fish farm.

“Our country provides excellent conditions in terms of fish production. I am happy that our water resources will be employed in this direction too. The memorandum, that we have signed, calls for introducing modern technologies in fish production to increase competitive capacity and develop the field”, Partnership Fund executive director David Saganelidze said.

The partner party assumes responsibility to explore the sector and submit a detailed investment plan, while Partnership Fund will discuss the project and join the  implementation process in case of project approval.