Chinese company invests 50 mln GEL in relocating plastic recycling plant to Georgia

The representatives of Global Recycling met with Georgian Economy Minister Natia Turnava today. Photo: Ministry of Economy., 10 Jul 2020 - 13:01, Tbilisi,Georgia

A Chinese company is relocating its plastic recycling plant to the Georgian municipality of Khobi within the '100 Investment Offers to Business' programme, announces the Georgian Ministry of Economy.

Georgian Economy Minister Natia Turnava said this an example of enterprises relocating from Asia to Georgia after the pandemic.

Construction of the plant will begin in the near future. In total 50 million GEL will be invested and 400 locals will be employed", said Turnava after a meeting with the representatives of Global Recycling today.

Within the '100 Investment Offers to Business' programme Global Recycling has purchased 300,000 sq.m. land in Khobi municipality at the auction where the company plans to relocate its plastic recycling plant at the first stage and later will open other factories that are involved in the entire cycle of the production chain.

Chairman of HIP Holding, which includes Global Recycling, said that there are 'wonderful investment conditions' in Georgia which include free trade agreements with the European Union and China and the 'unique geographical location' of Georgia.