Foundation capital

Georgian PM lays foundation for construction of $100m artificial island in Black Sea city of Batumi

Georgian Prime Minister Irakli Garibashvili landed the capsule for the construction of Ambassador Batumi’s $100 million ‘biggest investment project’ in the Black Sea resort city of Batumi, which will employ 2,000 people , the government administration announced on Saturday.

The palm-shaped Ambassador Island Batumi includes the creation of two artificial peninsulas and a state-of-the-art entertainment resort-like island and the development of relevant infrastructure on them, the government administration said, adding that it would combine entertainment-health, sports, educational, commercial and residential tourist destinations.

Photo: Prime Minister’s press office

Today, we are launching a unique, world-class project that is truly exceptional in the Black Sea region,” noted Garibashvili, adding that the project would contribute to the growth of Batumi’s “already strong” international reputation and progress economy of Adjara. .

He hailed project initiator and investor Tornike Keburia, the head of the Ambassador Group and his family, saying the company had created “really unique” projects in different regions of Georgia, including the capital of Tbilisi, the Georgian wine region of Kakheti, and the resort town of Adjara.

Photo: Jaba Surmanidze/Facebook

This truly unique project makes us all happy. In the name of our [Georgian] government, I would once again like to thank this group and express our [Government’s] full support,” the prime minister said.

Also, before issuing the building permit, the Prime Minister underlined that the company and its founder went through all the necessary procedures, carried out the expertise of the project, involved the research institutes concerned, adding that the project has complied with environmental and safety standards.

Garibashvili also said that the country “needs to implement” such large-scale projects, stressing that the decision of the group of ambassadors to revive this project shows that there are “unique conditions” in Georgia today.

Economy Minister Levan Davitashvili, Prime Minister Irakli Garibashvil, Chairman of the Government of Adjara Tornike Rijvadze. Photo: Prime Minister’s press office

He again underlined the double-digit economic growth in Georgia, wishing for the creation of “more jobs, income, wealth and more prosperity for Georgian citizens”.

Levan Davitashvili, Deputy Prime Minister, Minister of Economy and Sustainable Development, Tornike Rijvadze, Chairman of the Government of Adjara and Co-Founder of Batumi Island Ambassador Pridon Katamadze also addressed the guests invited to the event.