| Fund and Silk Road Group have signed this weekend agreement on cooperation, foreseeing construction of hotel on territory of memorial palace and garden of prominent public figure of 19th century Aleksandre Chavchavadze in Tsinandali (Telavi district of Kakheti region). Total cost of the project makes up $30 million, of which the Fund undertook investment of $10 million. Hotel Tsinandali Radisson is planned to open in early 2018. The Fund noted that it had allotted credit of $2.3 million for construction of the hotel, being launched in 2012. “However, construction was suspended then due to some technical reasons”, the Fund said, pointing that both principal amount and interest of the credit were repaid. It is noteworthy to remind that in the late 2014, Silk Road Group had declared about intention of the US Overseas Private Investment Corporation (OPIC) to allocate $10 million for construction of 104-room hotel in Tsinandali. That time, deadline for Radisson’s opening was named late 2016. At the presentation of the agreement and rehabilitated vineries, held in Tsinandali on September 3, Economy and Sustainable Development Minister Dimitri Kumsishvili declared that “More than 50,000 guests have visiting Tsinandali Manor, but I am sure that the potential is 10-time more”.
Source:Sarke Information News |
September 05, 2016
