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Rustavi Metallurgical Plant Privatized
The Georgian Economy Ministry announced on October 12 that it has sold a Metallurgical Plant in Rustavi, near the capital Tbilisi, at a bankruptcy auction to two Georgian companies – Energy and Industry Complex and Ted-Oil.
The Energy and Industry Complex purchased the major assets of the plant for USD 20.5 million. The Energy and Industry Complex also purchased a limestone workshop located in Dedoplistskaro district for USD 500,000.
According to the Georgian Economy Ministry, the company undertook to pay the sum before December 13, 2005.
Other part of the enterprise, involving a limestone and dolomite workshop, was purchased by Ted-Oil for USD 6 million.
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