Rakia Georgia eyes $10-15-bn Indian investment in Poti FIZ

MUMBAI: The UAE-based company Rakia Georgia, which is developing a free industrial zone (FIZ) in Poti (Georgia), is eyeing investments of around $ 10-15 bn from Indian companies this year.

"We expect that at least 25 Indian companies will invest close to around $ 10-15-bn this year (in FIZ)," the company's General Director S K Chatterji told media on the sidelines of an event organised by industry body FICCI here.

He added, "We are in talks with a few Indian companies including the Mukesh Ambani-led Reliance Group, Tata Group, Nagarjuna Fertilisers and Indian Farmers Fertiliser Cooperative (IFFCO), among others, to set up their businesses in the FIZ".

Poti FIZ offers competitive land lease rates and affordable office and housing rentals compared to similar locations across central and eastern Europe, Chatterji said.

Rakia has recently won a contract to build an international airport at Poti, which is just 5-kilometres from the FIZ, he said, adding that it would provide an additional advantage for Indian companies for exports.

"The strategic location of the FIZ coupled with a favourable trade regime makes Poti FIZ ideally positioned to access major markets across the world. It will enable Indian players to save substantially on freight costs and delivery times for export consignments to Europe, the CIS and North America," he said.


Rakia Georgia Free Industrial Zone (FIZ) was established in June 2008 by the RAK Investment Authority (RAKIA), the nodal agency of the Government of Ras Al Khaimah, UAE, to set up a global hub of manufacturing and services and an investment destination of choice for investors in the region.