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Strong Statement by Patarkatsishvili Family

Published: October 17, 2013 | 3:02 pm
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The Patarkatsishvili family has made a strong statement, and has not ruled out leaving the Co-Investment Fund. During a press-conference dedicated to the events surrounding Rustavi Steel, Mzia Patarkatsishvili stated that should the Supreme Court verdict in the Rustavi metallurgical plant case go in Joseph Kay’s favour, then the Patarkatsishvili family would suspend its investments on the Georgian market.
According to the Chairman of the supervisory council at Rustavi Steel Irakli Rukhadze, investors lose the will to conduct projects in a country which has no mechanism for protecting property rights. The Patarkatsishvili family has contributed $300 million to the Co-Investment Fund, but will not be financing any projects prior to the conclusion of the conflict.

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