Chinese, Israeli businessmen to invest 1 billion USD in Georgia

China and Israel’s largest companies are planning to invest more than a billion USD in Georgia, said Prime Minister Irakli Garibashvili after meeting with the foreign investors today.

The Georgian PM said Israeli and Chinese companies were interested in the fields of energy, agriculture and information technologies (IT).

"A 1 billion USD project is planned to be implemented in Georgia’s Agriculture,” stated the PM on his official Facebook page.

"The investors are also actively investing with the Economy Ministry’s Innovation and Technology Agency with the purpose of investing in the IT sphere.”

At today’s meeting the Georgian Prime Minister and the foreign investors talked about the privatisation process of a Thermal Power Plant in Gardabani, Georgia. Garibashvili said negotiations with PEGASUS EastWest was currently in its final phase regarding this issue.

PEGASUS EastWest is Hong Kong-based international, privately-held entity that focuses on developing businesses in the world's fastest growing emerging markets.

Today’s meeting was attended by Israel-based businessman Mikheil Mirilashvili, head of PEGASUS EastWest Rafi Kaminer, CEFC International Ltd executive chairman Ye Jianming, CEFC China president Chan Chauto, as well as high-ranking representatives from China’s state-owned hydropower engineering and construction company Sinohydro. Other guests included representatives from Israel’s multi-profile LR Group and other large Chinese and Israeli companies.