Georgia’s already growing economy would be even stronger with participation from local companies by producing goods for domestic and international consumption.
It is vital for Georgia to begin making such products today, utilizing both traditional manufacturing methods and high-tech options all while being mindful of any potential negative environmental impact there might be. Local manufacturing benefits Georgia not just materially, but intellectually.
Until recently, there weren’t any operations in Georgia that met these standards.
Today, we would like to inform you about an important project, which is related to the processing and disposal of mineral mining waste, and the implementation of such a plan in Georgia. The project involves the processing of the leftover residue from the mineral extraction that occurs during the mining process, and said waste’s utilization in the process of manufacturing electric vehicle batteries. The goal of the project is to transform useless, environmentally harmful waste into safe, functional and essential product. The most remarkable thing is that the process is entirely environmentally friendly thanks to the latest technology. The man behind this groundbreaking project will tell us in detail more about it.
George Gegechkori, the visionary, with his many years of experience and success as a project manager, has helped carry multiple projects to the forefront of their industries.
George Gegechkori was the CEO of RAKIA (Ras Al Khaimah Investment Authority ) Georgia and RAKEEN Development from 2015 to 2019. At the age of 27, he was the youngest person to hold such a position at at such large investment company in the country. The parent company of RAKIA Georgia and RAKEEN Development is RAKIA, one of the largest international investment firms in the Gulf region as well as Internationally.
On a local level RAKIA owns the Sheraton Metekhi Palace Hotel, the Tbilisi Mall, as well as many other plots of commercial real estate. RAKIA was the previous owner of the Port of Poti and the Free Industrial Zone of Poti. The Sheraton Metekhi opened in 1991, but 25 years later was in urgent need of a renovation. Under the leadership of George Gegechkori, a large-scale, four year long luxury renovation that cost more than 200 million GEL was completed in June of 2019. The end results are undeniable and can be viewed by all. George Gegechkori believes that the Sheraton Metekhi renovation project was equivalent in scope to building a brand new hotel. In fact, only the structural frame was left from the original Sheraton. What stands in its place today is a magnificent 21st century hotel, boasting the largest ballroom in the city that can accommodate more than 1000 guests, an atrium that soars 10 stories high, glass sided elevators and breathtaking views over the capital of Georgia Tbilisi.
George Gegechkori was also in charge of the Tbilisi Mall, a property valued at more than 300 million GEL. The development strategy that he and his team implemented was highly successful and the mall enjoyed the success of almost maximum tenant occupancy. George was involved in several other projects at the same time as he was leading the Tbilisi Mall operation.
When Ras Al Khaimah Investment Authority moved from holding to representative management, George left his CEO post since he considers himself to be the kind of a person, who needs to be actively involved in large scale projects.
George Gegechkori: “The second phase of my career, which I would like to highlight, is my position as the First Deputy General Director of the scientific-educational technical center Delta and the General Director of Delta International. Delta is a leader in the Georgian military industrial complex with a presence on the international market, selling national armaments produced locally. Examples of which are Didgori and Lazika to name a few. Under my direct supervision were the production, research and development departments, international sales, and demilitarization and utilization areas. During the first wave of the COVID-19 pandemic, we had to completely change the structure, in which I also took one of the leading roles. One of the important projects that we started discussing during my tenure there was the production of military drones with a Polish company. In addition, I was responsible for product improvement and initiation of several new projects.”
“When did you start working on the mineral waste recycling project and why did you want to do it?”
George Gegechkori: “The accumulated experience in management made its impact and from 2020 I decided to start my own business. Together with my partner, I founded a company – MCB – which started project development in chemical production. As already mentioned, this involves processing the waste left over from the extraction of mining minerals and turning it into a product that, in the end, has a wide range of uses. In addition to agriculture, the use of our product derived from waste as cathodes for electric vehicle batteries has already become very relevant. Considering the rich resources of our country, our desire and need was to create new products using the existing raw materials by recycling waste.
As you know, iron is an inexpensive raw material, but if you sell it as nails, for example, it will cost more, and if you make a hammer from it, the price will go even higher. Any process that involves the production of a new product from raw materials the expense and value becomes higher. The more essential this added value is, the better it is for the country and the business producing it. This is the motivating factor. First of all, we wanted to free the environment from waste, and then we wanted to create valuable products, which, for our benefit, are used in the production of batteries for electric cars. The research and development is finished and we have moved to the fundraising phase.
Based on our vision, it is important to find the right investor, who understands our vision. This project is not dictated by the desire to make money and accumulate wealth. It has been planned and implemented based on the country’s needs, from beginning to end.”
“Is the technical side of the project planned from an ecological point of view, how clean will the process be?”
George Gegechkori: “Of course, we have already conducted all of the trials and laboratory tests. A refinery that will ultimately create a clean product is a key component of this project. Most importantly, this is a 100% green growth process – a carbon-neutral factory with no emissions or waste.”
“This probably involves some high-tech processes…”
George Gegechkori : “Chemical production itself implies advanced technologies. Utilizing chemistry, a completely pure product is created. Harmful and useless waste will be transformed into a harmless and useful product.
“Have you communicated with the electric vehicle battery manufacturers?
George Gegechkori: “Indeed, we deligently researched the market and that’s why we started working on this project. Global and international trading principles refer to wholesale rather than retail. Batteries consist of many components. Electric car giants generally buy this type of product wholesale. We also looked for intermediary trading and brokerage companies, that will buy our product. We started finalizing the project after negotiating with them and already signed LOI’s and preliminary contracts.”
“Approximately, what is the budget?”
George Gegechkori: “The project is quite complex and its implementation will cost more than 15 million dollars. This includes building the plant, equipping it and bringing it to production phase.”
“Logistically, where are you considering building the facility?”
George Gegechkori: “We have selected several locations in western Georgia. It should be a place that is industrially and logistically appropriate for our project. Since the production of electric cars is not planned in Georgia yet, we intend to export the product, however, if something changes in this regard in Georgia, then we will be happy to supply them with our product.”
“In addition to the fact that the waste will be be transformed into something useful and safe, what else will this project give to our country?”
George Gegechkori: “Any factory, not operating in a primitive manner, creates not only material but also intellectual wealth. In addition to the fact that within the framework of the production and sales process of our factory, hundreds of people will be employed, knowledge and intellectual resources will be accumulated in a necessary and useful industry.
When a similar type of production exists all around Georgia, young people will have the opportunity to be employed in good and interesting conditions, if they have an appropriate knowledge and training. This type of plant will need future chemists. We even have scholarships designed for this, we have developed methods to motivate young students and help them. In the current situation in the Georgian employment market, the only opportunity to accumulate such knowledge and experience is the existence of such factories. For the State, it is necessary for this type of production to motivate existing and future employees. This is the biggest capital that one can invest in the development of the country.
“You are talking about the industries long-term vision. What kind of development can we expect in the future?”
George Gegechkori: “Georgia has great resources in terms of mining minerals. When the factory succeeds, the door of opportunity in this field will open. We are starting with one project, but obviously we have an eye on expansion and development. Our long-term vision is the development of chemical production and maximum commercialization of the green and sustainable chemical industry in Georgia.”
Source: Kvira Agency
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