Rakeen to Build a Cement Plant in Georgia

Rakeen to Build a Cement Plant in Georgia
Published: 16 September 2008

Arab giant RAK-IA with its sister company Rakeen plans to build a cement plant in Georgia. Working procedures are to begin in a month. Several million dollars will be invested in this project. The plant will be situated near Tbilisi , and the efficiency of the factory will be 1.2Mta, according to the company.

“RAK-IA’s sister company Rakeen is actively studying the market in Georgia for processing cement and building a cement plant here. Feasibility studies are coming to an end and in a month our colleagues will come here to start this business,” Dr. Khater Massaad, Chairman of the RAK-IA Board of Directors, declared to The FINANCIAL.

“The cement plant will be situated near Tbilisi , in the direction of Bolnisi or Marneuli. We plan to invest several millions in this project and the produced product will be for the local market as well as export,” Zaza Mikadze, Director General of RAK-IA in Georgia, noted.

RAK-IA has been working in Georgia since 2006, and is undertaking several important projects. Despite the current difficulties, it is continuing to invest in Georgia. Work on all its projects is underway and it is hoped that these will be completed according to their original timetables.

“We have several projects, as you know in Georgia. RAK-IA has a 51% stake in Poti Sea Port and we are also interested in the investments being made by Rakeen, sister company of RAK-IA. To our observations the working procedures of the shopping malls, hotels and Tbilisi Heights in Tabakhmela are continuing as normal. All these projects will be finished, as intended by the company,” Massaad noted.