French company Atlantic Group has opened a factory of electric heaters in Georgia’s western city of Kutaisi.
The factory, which was constructed in the Kutaisi Free Industrial Zone, is already fully equipped and produces up to 500 electric heaters a day while twice a week the production is exported abroad, including to neighboring countries.
Georgia’s Economy Minister Dimitry Kumsishvili was invited to open a new factory in Kutaisi yesterday. He said that this was another good example of cooperation between the state and the private sector.
Kutaisi Industrial Zone submitted the investment plan in early 2017 and in fact, it managed to fulfil all the undertaken obligations. 45 million GEL has been invested in the factory so far. At present there are 120 people employed in the factory and those people were fully retrained according to the highest European standards. They are provided with proper nutrition and transportation as well as a working environment”, Kumsishvili noted.
The factory plans to expand production in the future, which means that 400,000 heaters will be produced annually in Georgia, which will be exported to regional markets.
Today we have seen a complete production cycle, starting with very simple materials and high-end products. Localisation indicator is more than 72 percent, which means that 72 percent of the value of these products is created in our country”, Kumsishvili said.
The French company Atlantic Group is one of the leading companies in Western Europe having 22 factories in different parts of the world.
Kutaisi Free Industrial Zone was established several years ago. At present, FIZ produces different types of export products, including textiles, roofs, lamps, oils and household appliances.
