Donald Trump not to Finance Projects Carried out in Georgia

Head of Silk Road Group Girogi Ramishvili said in interview to the radio station Voice of America that American billionaire Donald Trump will not finance projects carried out in Tbilisi and Batumi, though he will help in attracting investments for the projects.

“The first is Donald Trump’s name, license use of the Trump name, and the second is to line up financing for the projects, what is very important for our company. It doesn’t mean that Trump will put his own cash into the projects, though it is not excluded. Trump will help us in attracting funds”, Giorgi Ramishvili said.

Giorgi Ramishvili considers this is a very good partnership deal between Donald Trump and Silk Road Group. He says the project will be implemented first in Batumi and then in Tbilisi.
President of Georgia Mikheil Saakashvili met with the American billionaire Donald Trump during his visit to the U.S. Mr. Trump signed a deal with Georgian Silk Road Group, (one of the largest private investment companies in the south Caucasus region) to built hotel and residence building in Batumi and Tbilisi.

Web site of the Administration of President of Georgia informs that by the investment of American billionaire 250 million USD will be invested in Georgia; however the management of the organization plans to increase investments in future. After the project is over, besides the hotel and residence building, commercial spaces and casinos would open as well.

According to the New York Times Donald Trump said that so far he had no plans to put his own cash into the deal. "We’ll decide whether or not we want to invest," he said.

See the New York Times
http://www.nytimes.com/2011/03/11/business/global/11donald.html?_r=3&src=busln

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