07.Dec .2022 16:00

Nikora To Build Logistic Centre With GEL 70 MLN

Nikora To Build Logistic Centre With GEL 70 MLN
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Meat product-producing company Nikora plans to build a logistics center in 2023, for which it will invest GEL 70 million. "Nikora" general director Irakli Bokolishvili spoke about the project with TV-Porgram "Business Morning".

Construction of the center will start next year, but the location has not been selected yet. The head of the company spoke about the importance of project implementation.

"From the beginning of that year, we will start the construction of a large distribution center. Central warehouse, it will be quite a large facility, which will be located on 3 hectares. A cold storage farm will be built on 1 ha. We are in the stage of selecting a place. We will try the distribution bring the product to this place, which should be transported in our stores. Today, we have warehouse spaces in two or three locations, and we don't have such a large modern warehouse space," said the general director of "Nikora" and added that GEL 70 million will be spent on the project.

JSC "Nikora", with the help of TBC Capital and Galt & Taggart, successfully placed 3-year bonds in the amount of GEL 35 million in the form of a public issue.

The bonds were placed on the Georgian stock exchange in the national currency, which allows the company to avoid foreign exchange risks. "Nikora" will use the funds received as a result of the placement of bonds to refinance existing obligations and to finance the company's future development plans.