Georgian Industrial Group

The business of GIG has been expanding quite steadily over the last years by means of acquisitions but also through organic growth e.g. by construction of new generation facilities such as hydropower plants.

[3] As of February 2012, the GIG encompassed a number of subsidiary companies operating in energy sector, acquiring and processing of natural resources, production of building materials, logistics service, real estate development, etc.

In January 2011, the President of Georgia Mikheil Saakashvili accused the coal mine owners of neglecting safety norms and of covering up the real reasons behind the incidents.

In November 2009, the Transparency International–Georgia reported that the GIG was in control of 30% of the shares of the Rustavi 2 broadcasting company, 45% of Mze, an entertainment television channel, and 65% of First Stereo.

[15] After the Parliament of Georgia passed, in April 2011, amendments to the Law on Broadcasters, the GIG sold its share in the TV-company First Stereo in December 2011.