News & Media

Borjomi-Likani International shareholders held a meeting

Posted on: 13 Oct 2016

The Partnership Fund introduced a restoration project on the Romanov Palace to the shareholders of the Borjomi-Likani International. Apart from the restoration project, shareholders also discussed charter amendments as well as candidates for the position of General Manager of Rixos Borjomi, nominated by Rixos. David Saganelidze, CEO of the Partnership Fund, senior officials of KazMunaiGas service and representatives of Rixos Borjomi attended the meeting. David Saganelidze spoke on the details of the Romanov Palace restoration project. A former Romanov Palace, former government residence and surrounding aria located in Borjomi-Likani territory was handed over to the Partnership Fund by the Georgian government, which will finance the restoration works with the support of the international financial institutions. Experienced specialists are involved in restoration and conservation works. After the restoration, the historical of the monument will be maintained. Under the contract, the Partnership Fund is obliged to carry out large-scale rehabilitation works including setting up a museum in Romanov Palace as well as implement restoration and conservation works for the cultural heritage monuments kept at the museum. "The Romanov Palace will become one of the attractive places for foreign visitors, which will further increase Rixos Borjomi hotel’s international importance,” David Saganelidze, CEO of the Partnership Fund said.  Rixos Borjomi project was implemented jointly be the Partnership Fund and KazMunaiGas, Kazakhstan’s state-owned oil and Gas Company. The total investment volume of the project is $48 million. The Hotel complex is located on the territory of the 4th division in Likani, Borjomi region.