Chinese Investors to Build Ferroalloys Plant in Kutaisi

Chinese Investors to Build Ferroalloys Plant in Kutaisi

access_time2016-02-02 15:14:22

A ferroalloys plant will be constructed in the Kutaisi free industrial zone (FIZ), Soso Nibladzae, the Kutaisi FIZ Executive Director,  told “Commersant”.

Currently, negotiations are underway with the Chinese company and the Chinese party is expected to invest 1.5 million USD  in the project.

Apart from that, negotiations are underway with a Ukrainian company to launch production of various plastic products in the FIZ. The investment cost of the  project is not specified yet, but the project is expected to employ about 100 persons, Nibladze said.

Intense negotiations are being conducted with several other companies, including in the automobiles spares field. The Kutaisi FIZ has raised much interest in investors, in general, whilst the FIZ has not started active marketing campaign yet, Nibladze noted.

The free industrial zone launched operation in Kutaisi on October 1, 2015. The Chinese company will invest 30 million USD in the Kutaisi FIZ. Under the government resolution, the FIZ will operate on the territory of  the Kutaisi Machine Building Plant for 30 years.

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