Monday, December 3, 2012

Silk Road Group rules out law violations in Trump Tower and hotels in Adjara

02.12.2012. Silk Road Group rules out the facts of law violations may be revealed in connection with Trump Tower project. Chairman of the Supervisory Board of the company stated that the area where the Batumi Tower is planned to be built was purchased from Adjara government.

According to Alexander Topuria, the tender was completed in full compliance with the law, the territory has been acquired in accordance with the market price and the project doesn’t require any checking. The new government of Adjara doesn’t rule out that Silk Road Group bought the territory from Batumi City Hall with violations - at the price that is lower than the current market price.

Along with that, the Ministry of Economy of Adjara had launched administrative proceedings against the company due to non-implementation of investment projects. As for the new complexes that had to be built on the territory of Meskheti and Media hotels until 2011, Topuria adds that on the basis of one of them Radisson hotel was opened despite the global crisis and the 2008 Georgia - Russian war. The company is ready to pay a penalty for failure to fulfill obligations in terms of the second project. In Topuria’s words, since 2006 Silk Road Group has invested in total 100 million USD in Adjara.


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