As Georgian Reconstruction and Development Company (GRDC) informs, the company acquired Lake Lisi neighboring land plot for $182 million. The initial price of 370 ha area, brought to the auction by Ministry of Economic Development, was defined at $26.5 million.
Four companies have taken part in and auction, announced on April 18. Georgian LLC Lisi Investment, Dutch company I-I-C – Yellow and Israeli Nimrod Georgia were rivals of GRDC, which has participated through its daughter company, LLC Lisi-2007.
The cost of land plot must be covered in 1 year. Project realization will be carried out stage-by-stage through 5 years. Investments should make up no less than $25 million. Works are planned to be launched this summer.
The company has been working on Lake Lisi territory development project, envisaging balneology health resort creation. It was presented to the government in February 2006, GRDC reminds.
GRDC already owns land plot, neighboring to Lisi Lake, as well as a 25-year license for recreational and sports use of forest in this area.
GRDC, member of TBC Group, has been operating since 2004. Total cost of the company projects makes up $80 million.
