14 Jan 2010 16:10

EBRD extends $12 mln credit to agriholding Margebeli

TBILISI. Jan 14 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has offer the Georgian agricultural holding Margebeli a credit worth $12 million for expansion and the adoption of energy-efficient technology, the EBRD office in the Georgian capital Tbilisi told Interfax.

Margebelin produces Nabeglavi mineral water, and also recently began producing food products in Marneuli in Eastern Georgia. The loan funds will mainly be addressed to bringing new equipment with low power requirements into the five-company holding, overhauling its irrigation systems, and building greenhouses, an EBRD representative said.

"The company is working to increase the production of mineral water to meet both local and export market demands. As the single producer of tomato paste and canned vegetables in Georgia, Margebeli plans to replace, with its products, the imports that currently dominate the Georgian market," the source said.