"We plan to transfer our production to Georgia, where there are tremendous investment conditions, including free trade agreements with the European Union and China, and a unique geographic location," said James Hong, Head of HIP Holding.
James Hong held a meeting with Georgian Economy and Sustainable Development Minister Natia Turnava.
Investor Hong thanked Natia Turnava and the Georgian government for the invitation.
The Global Recycling company, a part of HIP Holding, plans to relocate a plastic recycling plant in the Khobi municipality, Samegrelo region of Georgia.
For this purpose, Global Recycling acquired a 30-hectare plot of land in the Khobi municipality at an auction under the project "100 Investment Offers".
The Global Recycling company purchased the land plot of 300,000 m2 as part of the 100 Investment Offers project.
The company plans to relocate a plastic recycling factory from Asia and afterward, to open other enterprises involved in the chain.
In Natia Turnava's words, 50 mln GEL will be invested in the project, employing 400 residents.
The Global Recycling officials presented the investment project and emphasized that the plastic recycling factory's development and other ones would support the improvement of the local economic, social, and environmental situation.