New Enterprise Employs over 100 Citizens, Investments Total 15 million GEL
A new plant manufacturing copper and aluminum cables has employed more than 100 citizens. The investment amount totaled 15 million GEL. The enterprise was built with the support of Enterprise Georgia state program.
Georgian Economy Minister Natia Turnava officially opened the plant on July 15.
Turkish company Koç Kablo has made investments in the company. The enterprise is equipped with cutting-edge technologies, automated production, and records low production costs.
‘This is a high-technology and competitive enterprise and it exports products to foreign markets. This enterprise was created with the support of Enterprise Georgia program. This plant was opened several days ago, but it has already employed 100 citizens and this figure will double soon. This is a direct foreign investment made by one of the strongest and experienced companies in Turkey. This is a very important fact when amid the pandemic our country creates such new enterprises that employ our citizens and enhance Georgia’s export potential”, Natia Turnava noted.
A land of 9,502 m2 was transmitted to the company in February 2018 as part of the Enterprise Georgia program. At this stage, the company has received a major order from Burkina Faso and Ghana. Negotiations are underway with Great Britain and the Gulf countries.
The plant will employ 250 citizens. Its production capacity is 12,000 tons of copper and aluminum products, which is 300 million GEL products and 40 million GEL added value. As a result, the state budget will collect millions of GEL, Natia Turnava noted.