Page 40 - GEORptMay18

official opening ceremony, Khareba said. Khareba Winery owns 1,500 acres of land mainly in the Kakheti region of eastern Georgia, though also in the western regions of Imereti, Racha and Lechkhumi. It grows both traditional Georgian varieties of vine and European varieties such as Sauvignon, Muscat and Pinot. In 2017, Georgian wine exports reached their highest level in almost 30 years, with 76.7 million bottles exported to 53 countries, the National Wine Agency said, according to Georgia Today. Russia was the top export market, followed by Ukraine, China (to which exports soared by 43%), Kazakhstan and Poland. There were also substantial increases in exports to EU countries Poland (15%), Latvia (20%), Germany (38%), and France (178%).
9.2.4 Construction corporate news
British engineering company BuroHappold Engineering is to develop a master plan and development plan study for Georgia's landmark port development at Anaklia, agenda.ge reported on February 23. The announcement comes after BuroHappold was designated as the winner of a tender held by Anaklia City, a joint venture between TBC Bank, the country's largest lender, and American construction company Conti Group. Anaklia City will oversee the urban development associated with the Anaklia port project, a $2.5bn investment that is currently being developed by a consortium that includes both Conti Group and TBC Bank. The port will be able to berth post-Panamex size vessels of 10,000 TEU (twenty-foot equivalent units) and will contribute to Tbilisi's goal of becoming a hub for intermodal transport between China and Europe. The expected completion date is 2020. Some 20 companies participated in the tender to develop a master plan for Anaklia City, which developers want to design as a smart and environmentally friendly urban area.
9.2.5 Tourism corporate news
GVC Holdings, an online betting group based in the Isle of Man, will acquire 51% of the shares in Crystalbet, an online betting group registered in Georgia, for €41mn paid upfront in cash, the Financial Times reported on March 5. The holding has agreed to buy the remaining shares for a maximum of €150mn in 2021. Georgia has a regulated betting market, though its permissive legislation makes it a destination for casino tourism in the South Caucasus. Furthermore, tourism has posted solid growth in Georgia in recent years, which has prompted a flurry of real estate developments, including hotels and casinos. Crystlabet, founded in 2011, is one of the largest betting platforms of its kind, and holds licences for online casino games, sports betting and poker. The company reported €34mn in revenues in 2017 and €10mn in post-tax profits. The acquisition marks a consolidation of a new strategy for GVC Holdings, which has traditionally invested in unregulated markets but changed its strategy in 2017 by disposing of its Turkish business and announcing that it would focus on markets with a "realistic path to regulation".
40 GEORGIA Country Report May 2018 www.intellinews.com