Chinese businessmen to invest $150 million in Georgia

Chinese businessmen will invest $150 million in creating an international Khualinsk special economic zone in Georgia, the Georgian government said on Wednesday. The parties signed a memorandum on the establishment of the zone. The document was undersigned by Minister of Economy and Sustainable Development of Georgia Vera Kobalia and Chinese investors.

According to the memorandum, Khualinsk Commerce and Industry Group Sindziana is committed to build an international special economic zone Khualinsk by the European Youth Olympic Festival 2015. Particularly, it is planned to build a hotel with total area of 65,000 square meters, market, enterprise and warehousing, residential complex and a recreational area.

According to the Chairman of the Georgian Parliament David Bakradze, this memorandum will provide a basis for the creation of special economic zones in Tbilisi.

"It is a very large complex, which will have both commercial areas and entertainment centers. A lot of people will work here. With regard to infrastructure, the city will receive a new neighborhood and a new hotel that will be used during the Olympic Festival 2015," Bakradze said. A similar project has been carried out in China. About 40,000 people work on the complex.


/Trend/