OVEN PRODUCED BY “MINA” WITH FIREWORKS

EKA LOMIDZE

After the disintegration of the Soviet Union, the glass-work of Ksani region failed to maintain the production capacity and has, in fact, stopped in the beginning of 1990s.

In 1997 after privatisation, the Turkish company Shishejam has purchased the major interest. It is part of the three greatest European glass-works. After arriving in Georgia, Shishejam started rehabilitation and development of the enterprise and, first of all, carried out reconstruction works. On 20 June 1999 the President of Georgia issued an order on the improvement of the enterprise work and performance of stimulating measures. Since that international financial corporation and European bank of reconstruction and development became shareholders of the glass-work of Ksani. Presently, shares are distributed as follows: 62% of the statute capital belongs to Turks, 18% belongs to financial institutions and the rest – to Georgian shareholders.
George Chkheidze, general director of JSC “Mina”, said 10 million dollars investment was made after the Turks came to the enterprise. Yet Ersin Ozinjer, chairman of Shishejam’s board of directors, said foreigners have invested 20,8 million dollars in the development of the enterprise during these years.
Since 2001 the factory works with full capacity and issues 20 tons of production yearly. Therefore, Mina owns the greatest part of the Georgian market. Its consumers are more than 70 alcohol and non alcohol drinks, wine and beer companies of Georgia. The Georgian glass is, mainly, used by Azerbaijanis, though a number of consignments were sent to Russia and Turkey, too.
Proceeding from the increased requirements, JSC Mina developed a new 7 million dollars investment programme this year. The mentioned sum will be used for the purchase of oven and equipment designed to increase production volume. The main sum – 6,3 million dollars – was assigned by the international financial corporation. The organisation is one of the World Bank members and it curates the private sector. At the same time, it owns 18% of JSC Mina.
The credit length is 6 years, and the preferential period is 2 years. 4% is added to the annual interest rate – libor (constantly changeable London exchange rate). The rest sum of the investment project will be assigned from local resources. The production capacity of the enterprise will increase to 40 thousand tons by means of new technologies. The President of Georgia who came to attend the ceremony of opening a new oven that was accompanied by fireworks and Georgian folk songs, could not conceal his satisfaction: “I am glad to see that one more enterprise entered the development phase. The co-operation of two companies – Georgian Glass and Turkish Shishejam is important for the country. I remember well what state the factory was in before the shares were purchased by the Turkish company. There are more than a hundred of Georgian -Turkish enterprises here. This company is one of the most advanced ones in the Caucasus. Since 2003 high quota will be imposed on the import of Georgian wine. Thus, it is important which bottles it will be in”.
Ersin Ozirjen, chairman of Sheshejam’s board of directors expressed a hope that next year the trade return of JSC Mina will increase by 10 million dollars. At the same time, there will be export increase in Azerbaijan.
Ms. Dijle Kofuzi, an extraordinary and authoritative ambassador expressed her contentment with regards to the successful relations between Georgia and Turkey that develop even more on the daily basis. She stressed the importance of deepening strategic relations and congratulated JSC Mina on the operation of new oven.
Presently, 250 workers are employed in JSC Mina; annual budget contributions make up 2 million GEL. The future will show whether the enterprise will be a success at the expense of the increased number of exporters and production capacity.