The Georgian-Dutch company Georgian Glass and Mineral Water (GGMW) has received loans totalling US$ 12.9 million from the European Bank for Reconstruction and Development (EBRD) and the World Bank. GG…
The Georgian-Dutch company Georgian Glass and Mineral Water (GGMW) has received loans totalling US$ 12.9 million from the European Bank for Reconstruction and Development (EBRD) and the World Bank. GGMW has already won a tender for exclusive rights to produce Borjomi mineral water in Georgia and to use this trade mark. According to the GGMW President, Mamuka Khazaradze, the EBRD loan of US$ 10 million will be used to restore and build up production of Borjomi at two plants owned by the joint venture while the World Bank loan of US$ 2.9 million is intended for expanding and upgrading a glass factory in Khashuri. Mr. Khazaradze said that over US$ 25 million would be invested over 18 months in the project, designed to restore the prestige of Borjomi.