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Press Release: Two new enterprises open in Kakheti region of Georgia
08.06.2010
On June 8, 2010, two new enterprises funded within the framework of MCG's Agribusiness Development Activity (ADA) were opened in Kakheti region of Georgia. The opening ceremony was attended by the representatives of Local Government, MCG, CNFA as well as international organizations and local farmers. At 12:00, the rose oil plant "Kopala" has opened in village Napareuli. ADA grant funding of around $150,000 and local partner's matching investment of $151,000 was used to expand and technically re-equip an existing plant, cultivate roses and produce the rose oil for export mainly to Germany. Kopala LLC owns 20 hectares of young rose plantation and 70 hectares of land. The company is focused on industrial cultivation of roses and production of rose oil for export. Rose oil is one of the most valuable products among the essential oils industry. The final product is intensively used in perfume and pharmaceuticals production. Due to the exceptional qualities and scarcity the price of this product is consistently high. As a result of the project implementation around 40 new jobs were created. At 14:00, the dairy plant "Botkoveli" has opened in the village of Ikalto. ADA grant funding of around $50,000 and local partner's matching investment of $62,000 were used to establish a small scale milk processing plant equipped with modern equipment. The enterprise produces two types of Cheese: Georgian Cheese and Sulguni and sells it to the local market. Around 10 new jobs were created in the enterprise. Through MCG's Agribusiness Development Activity, total of 286 grant agreements have already been signed for the development of primary production, small and medium enterprises and farm service centers, with total value of up to $16.2 million. These projects are expected to lead to the creation of about 3,600 new jobs in rural Georgia.
About MCG: To implement the Millennium Challenge Compact, Government of Georgia established Millennium Challenge Georgia Fund. The $395.3 million-worth Program is a US-Government grant and is implemented according to the priorities of Georgian Government. The grant is intended for Infrastructure Rehabilitation and Enterprise Development in the regions of Georgia. For additional information, please visit: www.mcg.ge
About MCC: The Millennium Challenge Corporation (MCC) is a United States Government corporation. MCC is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people. For additional information please visit: www.mcc.gov
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