IFC promotes the production of glass in Georgia

The International Finance Corporation (IFC), a member of the World Bank Group, helps only action in Georgia plant to expand production of glass.As reported by "Georgia-News" in the Tbilisi office of IFC, as a result of the project, the company will be able to use the favorable conditions created in the market and meet the growing demand for products.

According to the information, IFC will provide the company "Mina" (Glass) will provide a loan of 8.5 million dollars and parallel attract 5 million euros from Rabobank to expand Ksani plant for the production of glass.

The company manufactures glass bottles for beverages, which is one of the leading export products of Georgia. At the moment, for drinks in the mostly used imported glass jars. The expansion will increase the company's revenues in the state budget and save jobs in a region where employment opportunities are very limited. Owner of the company "Mine" is Anadolu Cam, which is part of the Turkish industrial holding Sisecam and is one of the leading manufacturers of glass in the world.

The project will contribute to the renewal of machine systems company "Mina", the realization of investments in resource and energy-efficient technologies, and as a result increase the company's competitiveness. First investment in the company "Mina" IFC has invested in 1999.

Georgia became a member of IFC in 1995. Investments IFC, invested in 60 projects of different sectors amounted to 810 million dollars. IFC also with the help of consulting projects contributes to the development of the private sector in Georgia.