Overall Management of IAZ

IAZ O&M for the well-established, highly rated companies

Commercial Considerations and Principles

IAZ has the ambition to implement a "best in class" Greenhouse Cluster Development, through the establishment, operations and maintenance of the 220 ha facility occupied by the IAZ, ancillary business, a Training Centre and up to 94 farmers and greenhouse investors. Furthermore, IAZ will function as a one window – service provider for the tenants of the IAZ.​

IAZ is considering different approaches to the achievement of these goals:​

  • through an operations and management (O+M) contract with the IAZ, for establishing and maintaining the services to be provided by IAZ for the tenants, and the general public of the Imereti region​​

  • through an equity investment in IAZ, through a PPP structure in accordance with Georgian PPP requirements, combined with an O+M contract as above​​

  • through an outright purchase of the IAZ, gaining full ownership and exercise of control of the Greenhouse Cluster Development, subject to commitments to deliver the predefined Policy Outcomes. ​

The commercial principles to be adopted for the Project will be consistent with the applicable laws and policies of Georgia, including Georgia’s PPP Policy and Guidelines. 

Payment Mechanism and Performance Regime​

Should the preferred approach involve a PPP structure, appropriate Payment Mechanism and Performance Regime will be implemented, in accordance with and under the guidance of Georgia's PPP Agency. Such an approach is envisaged to entail pre-defined service payments and abatements.​

Project Finance​


At Stage 2, i.e. the RFP process, IAZ will require fully private sector financed Proposals. Respondents’ proposed financing structures should seek to optimize the level of efficiently priced private sector finance.​

IAZ is actively considering to transform itself to a Joint Stock Company (JSC) in Q3 / 2021, to facilitate the participation of private ownership, and – subject to a listing of the shares – allow for an easy purchase and sale of participations.​

Please click the picture to the right to access the public EoI documentation.