About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
Kazakh Bank to Invest in Adjara’s Resorts
Civil Georgia, Tbilisi / 11 Jan.'06 / 18:24

President Saakashvili said in the Kazakh capital Astana on January 11 that the Adjara Autonomous Republic will become “one of the most fashionable” resorts on the Black Sea coast thanks to investment projects the Kazakh BankTuranAlem (BTA) plans to carry out in the region.

President Saakashvili met with BTA representatives in Astana and, according to the Georgian media reports, an agreement that the BTA will invest in the construction of several hotels in Adjara was reached.
“The first results will already be obvious by summer... In 2008 Adjara will become one, huge, ultra-modern resort complex, similar to those which are in Turkey and Bulgaria. Adjara will become one of the most fashionable places for both Georgians and foreigners,” Saakashvili said.

Mukhtar Ablyazov, the BTA Chairman of the Board of Directors, was quoted by RIA Novosti news agency as saying that the Bank plans to invest about USD 200 million in Adjara’s tourism infrastructure.
Kazakh Bank TuranAlem (BTA), which holds assets of USD 5.5 billion, opened a branch office in Tbilisi last August. The Bank started implementation of a USD 100 million investment project, involving reconstruction of the hotel Iveria, in downtown Tbilisi, into a five-star hotel, as well as renovating all of Republic Square, where the hotel is located. The Silk Road Group is BTA’s major partner in Georgia.

After talks with his Kazakh counterpart Nursultan Nazarbayev in Astana on January 10, President Saakashvili said that Kazakhstan “will soon become the number one investor in Georgia.”

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2021, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.