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Georgia to Open New Winter Resort by 2016

Written by Mariam Gogiberidze, The FINANCIAL

23/12/2013 00:00 (117 Day 14:50 minutes ago)

The FINANCIAL -- A new winter resort is expected to be opened by 2016 in Georgia’s mountainous region of Svaneti. The resort, worth 40 million and co-financed by the French government, will be located on Tetnuldi, a prominent mountain peak situated in the central part of the Greater Caucasus Mountain Range, in Svaneti. GEL 40 million will be allocated for this from the Georgian state.


Construction of the ski resort “Tetnuldi” is planned to be finished by 2016. At this stage, according to the agreement between the state and Pomagalski, the French partners should provide the project with 3 rope-ways, according to the Ministry of Regional Development and Infrastructure of Georgia.

The French Government allocated EUR 18 million for this project as a loan to the Georgian Government. From the Georgian side GEL 40 million will be allocated for this project in the future.

With 100% participation from the Government’s side the Tetnuldi Development company was created to supervise the development of the Tetnuldi project. The main mission of this company consists of implementing the design and construction works. At this stage there are design works in progress, which are being carried out by Ltd Geographic ordered by Tetnuldi Development. After the works will be finished an international tender will be announced for principal construction works, according to the Ministry of Regional Development and Infrastructure of Georgia.

For now there are 3 main, popular winter resorts in Georgia: Gudauri, Bakuriani and Mestia. In 2012, for the winter season in the Kazbegi Municipality, hotel-type institutions hosted 25,109 foreign tourists, 6% more than in the previous year. The Mestia Municipality welcomed 10,225 foreign tourists; a decrease of 3% compared to the previous year. Borjomi Municipality hosted 8,467 foreign tourists, showing a 5% increase from the previous year, according to Geostat data.

“The construction of six hotels with a total of 700 beds is currently in progress in Bakuriani,” according to Ketevan Berozashvili, Economy and Infrastructure Development, Tourism Division.



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Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (2 Day 21:57 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.



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