Local glass manufacturer looks to conquer foreign markets

Millions of Georgian Lari (GEL) is being invested in one of the country’s leading glass manufacturers so it can expand, conquer foreign markets and bring benefits back to the local economy.

Mina glass manufacturing factory will invest €1 million (about 2.49 million GEL) in the company while the Government of Georgia will support the company grow its export markets.

Currently the company, located in Georgia’s Mtskheta region, produced more than 60,000 glass containers. Of this 80 percent was used locally and the remaining 20 percent was exported to Azerbaijan, Turkey and Italy.

Georgia's Economy Minister Giorgi Kvirikashvili and Deputy Minister Ketevan Bochorishvili visiting Mina factory in Ksani. Photo from Economy Ministry/Facebook

The State realised Mina had great potential to grow, increase its export markets and feature more prominently abroad. There was also room to create new jobs within the company, which would benefit the local community and national economy.

Georgia’s Economy Minister Giorgi Kvirikashvili visited the Mina factory in Ksani village yesterday and met company officials and learned about the factory’s operations and future plans.

Afterwards he said: "370 people are employed at the factory. Today we discussed all the possible ways in which we can contribute to creating more jobs in the factory. We will do our best to help the company not to face any challenges while exporting its production.”

Several months ago Mina received an $8.5 million USD loan from the International Finance Corporation (IFC), which also mobilised a parallel loan of €5 million from Rabobank for the company’s expansion.

At the time IFC said the funds would help enhance Mina’s competitiveness through renovation and equipment upgrades, along with energy and resource efficiency investments.

Mina produces glass bottles for the beverages market – a priority export sector for Georgia as the country currently largely relied on imported bottles.

Mina is owned by Anadolu Cam, the glass packaging arm of Sisecam, which is a leading Turkish producer of glass products worldwide.