“Our priority is to develop local production, increase exports and gradually replace imports with our local quality products. In recent years, under the Enterprise Georgia state programs we have funded hundreds of productions and spent up to a billion GEL. Now we have even more ambitious plan to repeat and exceed this success in the next two or three years by supporting at least 1300 productions and mobilize an investment of 2,5 billion GEL, which is a very ambitious but achievable plan,” – Minister of Economy and Sustainable Development, Natia Turnava stated at the opening of the Ytong factory in Tbilisi.
Prime Minister of Georgia Irakli Gharibashvili, Tbilisi Mayor Kakha Kaladze, as well as the representatives of the diplomatic and business sectors also attended the event.
The YTONG is a German brand that has been a world leader in the production of high-tech building materials for 100 years. There are currently more than 100 factories operating worldwide. The YTONG energy efficient block factory was opened in Lilo district in Tbilisi within the framework of the Enterprise Georgia’s program.
55 million GEL has been invested in the project and up to 200 people will be employed in the enterprise. In the near future, the company plans to export its products to the neighbouring countries.
The project was launched by the Archi in cooperation with the YTONG’s German partners, Ksela Group, the Partnership Fund and the TBC Bank, and was later joined by the BK Construction Partners.
According to Natia Turnava, this is another proof that the program Enterprise Georgia, which was launched by Prime Minister Irakli Gharibashvili in 2014, is really fulfilling its purpose.
“This successful project could not have been possible without the best example of cooperation between the government and investors. This is a high-tech production, a German technology, and it is very important that within the framework of the Enterprise Georgia program we have financed and will continue to finance import substitution productions, because today, these high-tech gas blocks will compete with the best imported analogues,” – the Minster of Economy and Sustainable Development commented.
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