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Borjomi retains mineral water licence
The Ministry for Economic Development of Georgia has held an auction on issue of the licence for minerals extraction on the Borjomi mineral water deposit.
Georgian Glass & Mineral Waters (GGMW) has acquired the licence for the term of 25 years. The starting price of the licence was the equivalent of US$8m, and the increment was equal to $200,000, so in effect GGMW has bid $8.2m.
The Ministry’s general director, Zaza Kikvadze, said: “This is the logical course of our activity we have implemented for the success of Georgian brand. For 15 years already, we have borne the responsibility for promotion of Borjomi brand. Our success is based on the enormous work performed by us during all these years. As a matter of fact, we have operated from crisis to crisis. For the 15-year period, we have overcome three crises and each of them made us more stronger than earlier. Practically, we have restored the brand Borjomi from ashes and returned to him the former good name. The present day is the logical continuation of all that activity we have pursued before.”
The licence term ended in 2007, but this was extended informally on an annual basis until GGMW purchased the 25-year term licence on 20 March.
Source: Georgian Glass & Mineral Waters Company
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