Georgia will invest $150m in New Gudauri development project

More than a million dollars will be pumped into Gudauri, Georgia’s most popular winter resort to transform the space into a world-class ski resort and make the area more attractive for visitors.

Today the Government of Georgia announced the New Gudauri project, which will see Canadian mountain development firm Ecosign, Ernst & Young, governmental and private sector representatives team up to implement Gudauri’s future infrastructural development.

In front of guests in Tbilisi, Georgia’s Economy Minister Dimitry Kumsishvili discussed the master plan of the New Gudauri development project, which was jointly created by Ecosign and Ernst & Young.

Kumsishvili said $150 million USD would be invested to develop Gudauri’s infrastructure and facilities and this would be implemented in several stages. Initially $40 million USD would be spent on the first stage of works.

Canadian company Ecosign, Ernst & Young, governmental and private sector representatives teamed up to implement Gudauri’s future infrastructural development. Photo from Georgia's Ministry of Economy/Facebook. 

Today’s presentation was attended by officials from the Mountain Resorts Development Company and its partner companies, the Partnership Fund, Georgia’s Ministry of Economy, and the Georgian National Tourism Administration, who all responded positively to the New Gudauri project.

Collectively the guests said Georgia could earn more than $300 million USD additional annual income by realising the full potential of the Gudauri mountain resort.

The agreement to develop the Gudauri winter resort was signed by Georgia and its international partners on October 16, 2015.

Specifically, Georgia’s Mountain Resorts Development Company - a state enterprise tasked with managing and developing the Gudauri and Bakuriani ski resorts – signed the deal with Canada’s Ecosign Mountain Resort Planners that envisaged creating a master plan for the future development of the Georgian resort.

Initially Ecosign said its Gudauri development plan would include a new cableway, additional ski tracks, parking zones, hotels, food areas and entertainment facilities.

The agreement was signed in South Korea within the second European and Asian Ski Resorts conference.