“Today we have opened another enterprise which participated in the state program Enterprise Georgia. The Polymer 1 Ltd produces high quality polyethylene pipes. Over 6.5 million GEL has been invested in the company. It is important that the company took advantages of both financial and infrastructural support components of the program. We handed over 3000 m2 plot of land to the company to build a new enterprise of modern technologies” – the First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development, Dimitry Kumsishvili stated at the official opening of the new Polymer 1 Ltd enterprise. According to him, this enterprise is a good example of how successful the program Enterprise Georgia is.
With the support of the Enterprise Georgia, the company managed to build a new enterprise, to purchase the equipment for a new laboratory for the production of better quality coarse pipes and increase the variety of the produced goods.
Additional 30 new jobs will be created at the factory where 90 people are employed currently and the production volume will be increased as well. It should be noted that the Polymer 1 Ltd plans to launch the production to supply both local and international markets.
According to the First Vice Prime Minister, it is important that the enterprise has its own laboratory where the products are tested in order to be ensure that the customers receive the quality product by the Polymer 1.
“Today, 90 people are employed in the enterprise, but the number of employees will be increased, which is very important. It is also exciting that the new high quality production is a good opportunity to replace import. However, the company exports its products to Azerbaijan and I hope that they will be able to export to other markets,” – the First Vice Prime Minister noted.
“Polymer 1 Ltd. is the beneficiary of the financial and infrastructural components of the Enterprise Georgia program of the Ministry of Economy and Sustainable Development, which means that the bank loan interest shall be co-financed by the Enterprise Georgia during the first two years. At the same time, with the support of the LEPL National Agency of State Property, the company received a 3000 m2 plot of land in Kvemo Ponichala to build a new enterprise in Tbilisi.
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