Daily News

IN THIS ISSUE:

National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided on March 25 to leave the refinancing rate without change. Respectively, the rate still makes up 4.5%.

The Prime Minister Irakli Garibashvili declared that he has “no concrete recipe, how to find today or tomorrow the way out of this (economic) situation”. “This may require some months, perhaps”, the Premier said at the press conference today.

Agriculture Ministry declared that in order to conduct effective control over food safety, toughening of penalties is planned.

According to acting regulations, in case of suspicions concerning production of products harmful to human health, business operator is obliged to prevent their appearance in a trade network or to withdraw from shelves.

Minister of Economy and Sustainable Development Giorgi Kvirikashvili declared that his ministry will confirm execution of investment obligations by Agricultural University.

“In spite of the fact that we have the right to appeal against the court decision, we do not intend to appeal and, certainly, we will confirm execution of investment obligations by them”, Kvirikashvili declared to journalists today.

According to estimation of JSC Georgian Railway, net profit of the company for 2014 made up 33.51 million lari. If compared with 2013, the volume has decreased by 48.63%.

According to order of the Prime Minister, LLC TAM Management will get real estate in Tbilisi in 15-year usufruct. The matter concerns land plot of 33,550 square m and two floors (the 2^nd and the 3^rd ones, 1,304 square m in total) of office building, located on Khmelnytsky Street (territory of aviation plant).

According to order of the Prime Minister, deadline for interest expression to construction of oil refinery in Poti expires on April 10. Originally, it was planned to finish acceptance of bids on February 10, then it was postponed for March 10.

EBRD declared that tender on procurement of service and goods, required for construction of wind power plant in Shida Kartli region, is expected to commence in the 2^nd quarter.

As the bank specified, Qartli Windfarm, subsidiary of Georgian state-owned Energy Development Fund, is going to build and operate wind power plant in Gori municipality through financing of EBRD.

Tbilisi Development Fund announced competition on purchase of works within 3 projects on rehabilitation of Wine Acclivity, located in Avlabar (historical part of the capital).

Total cost of all 3 projects makes up 220,000 lari.

According to order of the Prime Minister, 4 agricultural land plots in Akhaltsikhe municipality (Samtskhe-Javakheti region) will be handed over to LLC Georgian Business Zone in rent for 25 years. Annual rent fee of these plots, having total area of 52.76 ha, will make 5,200 lari.

According to order of the Prime Minister, nonagricultural land plot of 2,748 square m in Mtskheta and constructions, located on it, will be sold directly to LLC Continent for symbolic price of 1 lari (i.e. within “Produce in Georgia” state program).

According to privatization terms, the company should create timber enterprise on this territory.