250- million USD project failed in Poti


A 250 million USD project of a metallurgical plant has failed in Poti.

"Commersant" radio station reports that the Ministry of Economy and Turkish investors could not agree on terms.

As a representative of the Turkish side explains, the Economy Ministry did not agree to the terms of the investor and the Economy Minister’s conditions do not meet the interest of the  investor. Accordingly, it can be said that the project would not be implemented.

Note: After the change of government, a metallurgical plant in Poti was named one of the first large-scale investment projects. The Turkish side asks additional benefits from the government to implement the project, while the Ministry of Economy states that the issue is not easy to decide.

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