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ITERA will Obtain Chemical Factory - Shevardnadze States
/ 11 Dec.'02 / 18:24

(Tbilisi, Civil Georgia, December 11, 2002) - Despite of opposition’s criticism Georgian President says that the largest chemical factory in the region Azot in town of Rustavi will be obtained by the Russian energy giant ITERA, which is the exclusive supplier of the gas to Georgia.

On December 5 opposition parties: the United Democrat, National Movement and the Traditionalists claim that the sale of factory without procurement is illegal, saying Shevardnadze’s family stands behind this illegal deal.

“The failure of the deal with ITERA will be followed with the suspension of the gas supply to Georgia, that will lead to the mass protest of the population. The political parties, which are against the deal, want this protest in order to take over the power. I will not let it happen,” Eduard Shevardnadze stated at the government’s meeting today.

According to the State Property Management Ministry ITERA would pay USD 500 million for the 90% of factory's shares. The ITERA also vows to invest up to USD 13 million in the two years.

At first Georgian authorities refused to sell the factory without procurement to the ITERA but after the visit of the company's president in Tbilisi in early December, Georgian government changed the decision.

During the talks with the Georgian leadership president of ITERA agreed on Georgia's debt repayment for seven years. The debt was accumulated for the supply of the gas.

The opposition claims that in ITERA's face, the Georgian government will have the organization, linked with the Russian political groups, which is guided not by economic goals but by these groups and in fact is a tool of pressure over Georgia.

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