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George-Ramisvhili

George Ramishvili Announces Batumi Silk Tower Project on CNBC Live

On October 20th the founder of the Silk Road Group, George Ramishvili, was a guest of the highest-rated CNBC live show, invited by the CNBC Chief International Correspondent and a co-anchor of the Power Lunch, Michelle Caruso-Cabrera. Power Lunch live show covers economy, markets, politics, real estate, technologies and more and delivers to viewers a full plate of CNBC’s award-winning business news coverage with the leaders of the world’s business and politics among its guests (www.cnbc.com/power-lunch-cnbc).

Ramishvili said in the interview that the company will build the Silk Tower in Batumi in accordance with the architectural concept as was agreed with Donal Trump and the Trump Organization. The project cost is up to USD 100 million.

The Georgian Co-Investment Fund is the partner of the project and the binding memorandum has been signed with them.

The licensing agreement with the Trump Organization was terminated early 2017 at the mutual agreement by the parties following election of Donald Trump a President of the United States.

“It was a new reality. Mr. Trump became president. It was a different situation, and we amicably agreed to stop this contract. I believe it was not about a tower, about one building at that time, for me it was a bigger responsibility to care about relationships between America and Georgia, which is of higher importance (აქ higher level-ს ამბობს in fact) than any building. I am sure right now what we are doing, we are spending around one hundred million for the tower, which should be exactly same architectural concept like we did with Mr. Trump, with a Silk Tower (name), exactly like it was approved by Mr. Trump and the Trump Organization in 2012 when he visitied in Georgia and I believe it will be a super successful project” said George Ramishvili