30 million GEL to be invested in Georgia’s Tskaltubo municipality

Georgia’s Ministry of Economy has issued a license for the development of calcite deposit in Mekveni, in Georgia’s Tskaltubo municipality, where at least 30 million GEL will be invested.

According to investment liabilities determined by the license, the license holder should invest not less than 17 million GEL (about $6.97$/€5.92*) for mining and processing the minerals in the territory of Georgia over three years from the entry into force of the license; and in the next three years, another 13 million GEL (about $5.33$/€4.25*) should be invested.

In total 30 million GEL (about $12.30$/€10.44*) will be invested in Tskaltubo.

Moreover the license holder is obliged to employ not less than 80 people in Georgia.

Microns Caucasus won the auction announced for the Mekveni calcite deposit.

*Currency conversions reflect National Bank of Georgia values as of today.