LLC Georgian Railway announced that JSC Elit Electronics (household technique realization) won a competition on 49-year leasing of Tbilisi Junction building (Navtlugi station in Isani-Samgori district) with attached land plot. The company was the only participant of the competition.
Total area of the 4-storey building, located on Moscow Avenue in Tbilisi, is 6,741 square m, land plot - 10,327 square m. The building is under exploitation since 1978 year. Elit Electronics offered leasing fee at amount of $22,000 monthly.
According to competition terms, the winner should carry out reconstruction within 2 years, worth no less than $1.5 million. With this, internally displaced persons (IDPs), resided on the territory, should be provided with alternative living space.
From its hand, the JSC says that negotiations are undergoing with foreign investors on credit line allotment, which may result in investment increase up to $15 million. The modern trade center will be arranged on the mentioned area, the project of which is worked out by Arsi constructing company.
Elit Electronics, founded as LLC in 1996, was reorganized in JSC recently. Admission of shares in trading system of Georgian Stock Exchange is expected in September. At this stage Anzor Kokoladze, director general of the company, is the single owner of total stack.
According to 2006 data, Elit Electronics has 17 shops in the country, of which - 11 in Tbilisi. Moreover, the JSC has dealer contracts with 25 shops. Turnover of 2006 accounted for 100 million GEL, while the company expects its increase up to 180 million GEL this year.
