BUSINESS
The most large-scale projects implemented in Georgia
23 April, 2018
Big budget projects – this is one of the main prerequisites for the development of the country. Currently, financial turnover starts in the country, big investments are made in the country’s economy and more people are employed. The country becomes more notable on the world map and more people become interested in investing or traveling in the country.

Over last years, many large-scaleand pricy projects were being implemented in Georgia, that had positive effect on the development of county’s economy.
The most notable projects of the recent times in various directions are “Anaklia City,” “ The Hotel Biltmore Tbilisi” and new Baku-Tbilisi-Kars Railway line.
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“Anaklia City” – construction of new port in Anaklia will provide favorable conditions for the development of logistics centers and industrial zones, what will significantly increase cargo turnover on Georgia’s territory. What is the most important, the project will have positive social-economical impact on western Georgia – thousands of new jobs will be created.

The sponsor of the project is Anaklia Development Consortium LLC (TBC Holdings and Conti Group). Its total value is $ 2.5 billion, out of this 586 million will be invested in the construction of the first phase. The state will hand over 1000 hectares of land with long-term lease to the state investor and will provide the construction of the road and railway linked to the port. The port will be built in 9 phases and its annual capacity will reach 100 million tons of cargo. The state gives the status of a free industrial zone for the surrounding territory of the port.
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The investments in hospitality business are also noteworthy. “The Biltmore Tbilisi,” which is one of the most big budget foreign investments in the country, became the symbol of Tbilisi. The 5-star hotel is located in the 32-floor building reaching 138 meters in eight.  The Biltmore Tbilisi is the part of Millennium Hotels & Resorts’s Biltmore Collection. Biltmore Collection includes only the hotels of the highest class, built on the places with the historic past. “ The Biltmore Tbilisi,” as the part of “Biltmore Collection,” is also located in the historic building. This is Imeli Building - the typical example of the Soviet architecture.

After the collapse of the Soviet Union, it housed the Parliament of Georgia were the first constitution of the independent Georgia was adopted. Nowadays, the conferences of the international level are held in the historic amphitheater of Imeli building. The Biltmore Tbilisi is the only hotel in Georgia which is housed in such historic building. Also, it is the first hotel of Millennium Hotels and Resorts in Eastern Europe.

The managing company of the Biltmore Tbilisi is Millennium Hotels and Resorts, while the owner is “Dhabi Group.” The head of the “Dhabi Group” is Sheikh Mansour bin Zayed Al Nahyan, member of the Abu Dhabi Royal Family and Minister of Presidential Affairs for the UAE. The $ 140 million investment in the construction of the hotel was made by "Dhabi Group".

“The Biltmore Tbilisi” is the tallest hotel not only in Georgia, but throughout the whole Caucasus Region as well.
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Baku-Tbilisi-Kars railway line – one of the most important project for the country is the construction of Baku-Tbilisi-Kars railway. The implementation of this project will provide an alternative railway route linking Asia and Europe, what means the development of international transport corridor of historic Silk Road, TRACECA, which will strengthen the position of Georgia, as the competitive linking route of Asia and Europe.

Baku-Tbilisi-Kars Railway was officially opened on October 30, 2017. The opening of the route was attended by Turkish President Recep Tayyip Erdogan, Georgian Prime Minister Giorgi Kvirikashvili, Kazakh Prime Minister Bakytzhan Sagintayev and Uzbek Premier Abdullah Aripov.

Opening of the railway was positively assessed by EU. Europen Union called it a major step in transport interconnections linking the European Union, Turkey, Georgia, Azerbaijan, and Central Asia.

The length of the Baku-Tbilisi-Kars railway is 826 kilometers. Out of this 254-kilometers line is located on the territory of Georgia. The project is financed by the Republic of Azerbaijan.

In the beginning, it is expected to have the capacity of 6,5 million tons of cargo, while in long-term increasing this data to 17 million tons of cargo is planned.
This is the short list of the projects that have positive effect on the development of Georgia. According to the experts of economy, implementation of similar projects is one of the prerequisites for developing the population welfare rate and improving the country’s economic conditions.
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