INVESTMENT IN BRIEF
Gebrüder Weiss, Tegeta Motors Open Logistics Center in Tbilisi
A Gebrüder Weiss groupage-freight service has already been in operation since the start of 2012 on the Passau - Tbilisi line, according to the company's press service. The 10,500 square meter center was built by Gebrüder Weiss and Tegeta Motors, its partner in the Caucasus. The center currently employs 50 people.
Ivanishvili's Private Equity Fund Opens
Prime Minister Bidzina Ivanishvililaunched his $6 billion Georgian Co-Investment Fund on September 30. The fund, which will finance projects in priority areas, will include $1 billion of Ivanishvili's personal wealth.
Wendy's Franchise Opens in Tbilisi
Wissol Group, the Wendy's franchise holder in Georgia since 2012, opened the first Wendy's restaurant in Tbilisi on September 12 on Rustaveli Avenue, at the former Georgian Post Office location. Approximately fifteen Wendy's restaurants will be opened across the country over the next five years, according to the Wissol Group.
The Wendy's on Rustaveli Avenue is one of the largest Wendy's restaurants in the world, with 1,000 square meters of dining and entertainment space. Wissol Group is working with OPIC to finance additional Wendy's restaurants across Georgia.
Hilton Announces Expansion into Georgia
Hilton Hotels & Resorts, together with local partners, plans to open two hotels in Georgia starting in 2016. The first property, the Hilton Garden Inn Tbilisi Chavchavadze, will be fourteen stories and have 165 rooms. The European Bank for Reconstruction and Development is financing the project with an $18.7 million loan to the Georgian real estate group Redix. The 247-room Hilton Batumi includes plans for retail shopping, a casino and a health club.
Renovated Kazbegi Border Crossing with Russia Opens
Officials claim the new, modernized border crossing will be able to process nearly three times as many people, according to the Finance Ministry.
The new, 9-million-lari border crossing opened on September 10. Civil.ge reported there were 329,601 entries via this border-crossing point in the first six months of the year, more than half of those by Russian citizens.
Poti Sea Port Plans to Expand ICT GEZE
APM Terminals announced plans to expand ICT GEZE to seventeen hectares by July 14, which will allow the facility to handle all the containers coming through the port.
Currently just nine hectares, the facility will also be connected to Poti by a 2.5 kilometer rail link, and a 1.4 kilometer road linking it to the port.
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