Israeli company invests in Georgia’s agricultural sector

Israel-based company LR Group would invest in Georgia’s agricultural sector. Photo by the Ministry of Agriculture., 11 Sep 2014 - 13:35, Tbilisi,Georgia

An Israeli company is promising to invest in Georgia’s agricultural sector.

Israel-based company LR Group said it would fund several projects in Georgia’s rural regions however company a representative did not give any further details of its plans. The total value of investment was not disclosed.

Georgia’s Minister of Agriculture Otar Danelia met an LR Group representative yesterday and discussed how the offshore business would contribute to and benefit the Georgian economy.

A representative of the company, which has operated in Europe, Africa and Asia since its establishment in 1985, said the agricultural industry was one of the major focus points of LR Group.

"We have invested in agricultural projects worth more than a billion dollars worldwide. This was our first visit to Georgia and we are ready to cooperate with local partners on large investment projects,” said LR Group’s East Department Director Mark Veltman.

After the meeting Minister Danelia said it was encouraging to know major international businesses were keen to invest in Georgia.

"The fact that one of the world's biggest companies, LR Group, is interested in investing in Georgia clearly demonstrates the healthy and attractive investment environment in our country,” he said.

LR Group is an international company that engaged in construction and development of the rural sector, including a range of agricultural and community facilities.