100 People Employed and GEL 15 Million Invested in New Enterprise of Copper and Aluminium
Minister of Economy and Sustainable Development, Natia Turnava officially opened a new enterprise of copper and aluminium wires in Tbilisi.
Over 100 people have been employed and 15 million GEL has been invested in the enterprise established by the Turkish company Koç Kablo with the support of the program Enterprise Georgia supporting program.
“New enterprise is high-tech and competitive, and which is most important, it exports its products. The enterprise was established with the support of the state within the framework of the program Enterprise Georgia, and although it is newly opened, at this stage, it already employs 100 people while in the future, this figure will practically double. This is a foreign direct investment made by one of the strongest and most experienced Turkish companies. It is very important for us that despite the difficulties emerged due to the pandemic, such new enterprises are still established, which employ our citizens and strengthen Georgia’s export potential,” – Natia Turnava said.
The company was given a 9502m2 plot of land in February 2018 under within the Enterprise Georgia program. The project is particularly important taking into account its export potential. The enterprise mainly produces the product for export markets. The company has currently received large orders from Burkina Faso and Ghana, and is also in negotiations with the UK and the Gulf countries.
The enterprise, after developing its full production capacity, will employ over 250 people. Its production capacity per year shall reach 12000 tons of copper and aluminium. Which in financial terms amounts to the production worth of 300 million GEL, the generation of the additional value of 40 million GEL and the payment of millions of GEL taxes to the budget.
Irakli Nadareishvili, the Deputy Minister of Economy and Sustainable Development, Mikheil Khidureli, the Director of the Enterprise Georgia Agency, Irakli Bregvadze, the General Director of the Enterprise as well as other officials and business representatives also participated in the opening of the enterprise.