The Prime Minister of Georgia explained why the existing agreement with Eagle Hills has the status of a commercial secret.
As Irakli Kobakhidze stated at the parliamentary plenary session during his hearing by interpellation, this is in the commercial interest of the partner company, so that it has space in the future to conduct negotiations with other potential partners.
“As for why this agreement has been assigned the status of a commercial secret. This is a purely commercial interest of the partner company, so that it has space in the future to conduct negotiations with other potential partners, and this is a common practice. This practice is based, on the one hand, on Georgian legislation, and on the other hand, this practice is based on international practice,” Kobakhidze said.
He also noted that the Georgian state does not assume any financial obligations.
"As for the obligations of the parties, first of all, a joint company is being established, one third of the shares in this company belong to the Georgian state, 2/3 belong to the Eagle Hills company, and one circumstance should be emphasized here: the Georgian state does not assume any financial obligations, any financial guarantees, or any non-standard conditions in favor of the partner company. The Georgian state is completely free from obligations. We are entering this project with land plots and the state has no obligations, including guarantee obligations. As for the investor's obligations, the investor undertakes to fully provide project financing and implement project management, that is, the obligations are entirely on the partner company," Kobakhidze said.
