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Cesar Chocheli has not Approached the Co-Investment Fund yet

Published: October 22, 2013 | 2:31 pm
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Coffee, chips, cement and glass processing enterprises – these are the new units which Cesar Chocheli plans to establish next April. The businessman and former Governor of Mtskheta-Mtianeti, who is currently being investigated for misappropriation of State property, has said that investments worth a total of GEL 100 million will be necessary to carry out these projects.
Mr. Chocheli is currently holding talks both with local investment funds and foreign firms. According to the former governor, the Co-Investment Fund is being considered as the most realistic option amongst the local organisations.
On its part, the Co-Investment Fund has stated that Mr. Chocheli has not approached it yet. However, if his projects were to fulfil all the necessary criteria, then the CIF would be willing to finance them. The main priorities, from the fund’s point of view, are the benefits to the country and creation of jobs. The former governor owns shares in Zedazeni, Barambo and the splint factory, is facing charges on several counts. However, Mr. Chocheli is denying his guilt.

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