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International Internet Magazine. Baltic States news & analytics Tuesday, 17.07.2018, 14:44

Skinest Group invested in Georgia nearly 60 mln euros

BC, Tallinn, 22.09.2017.Print version
The Skinest Group holding company owned by Oleg Ossinovsky has invested more than 60 million euros in Georgia over the last couple of years. Recently, the Kintrishi hydroelectric power plant with a capacity of 6.6 MW was commissioned, informed BC Group's press service.

According to Juliana Polyanskaja, member of the board of Skinest Group, the next energy project in Georgia is the construction of a cascade of Lakhami hydroelectric power plant with a capacity of 16 MW. "Hydroelectric projects with a total capacity of about 50 MW are also in various development phases," Polyanskaya said.


Skinest Group assesses investments in the development of renewable energy projects in Georgia as a contribution to the sustainable development of the world and the resolution of climate problems. From the point of view of the company, investments in the renewable energy sector will help reduce the greenhouse effect and slow down global warming.


According to Polyanskaya, the company also has large investments in the Georgian real estate market. "By the end of 2017, a new 18-track world-class golf course will be built on 331 hectares, after which a new green residential area overlooking the city of Tbilisi will be built. This is a very big project, which has plans for more than 1400 residential buildings, schools, kindergartens and sports facilities. The golf course at this level adds Georgia to the world map of golf and is the basis for the development of a new sport in the country. The Georgian government supports this large-scale infrastructure project in every way, as the considerable long-term positive economic impact of such a project on the entire economy of the region is quite obvious: the growth of construction activity, the emergence of new services, the attraction of a new class of tourists," said Polyanskaya.


According to her, Skinest Group is developing projects with various partners. "In the case of real estate, the Kaamos Group team is an important partner," Polyanskaya said.


Skinest is a holding company which was founded in 2005 by the parent company Skinest Group. The Group's companies operate in Estonia, Latvia, Lithuania, Finland, Russia, Poland, Ukraine, Croatia and Georgia. The major shareholder of the Group is Oleg Ossinovsky. Through its various subsidiaries, the Group has around twenty co-investors. The Group, including its affiliates, employs over 900 people.

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