Silk Road Group to Launch $20 Million Data Center Project in April

Silk Road Group will begin implementing a $20 million data center project starting in April, the company’s founder, businessman Giorgi Ramishvili, told journalists while attending an international capital markets conference. However, he did not specify the project timeline.

“We have been preparing this data center project for two years, and we will start in the first week of April. It will be a Triple A+ certified data center. Such a facility has not yet been built in Georgia. The project is being developed in partnership with telecommunications corporation Orange and is a very serious undertaking. Its capacity will be 2 megawatts,” said Ramishvili.

In addition to the data center, Silk Road Group is developing projects in real estate, energy, and telecommunications. These are being implemented within the framework of the company’s $400 million Eurobond issuance on the London Stock Exchange.

“We are actively developing 5G in the digital direction, and this process is moving very quickly technologically. We have also launched the ‘Batumi Sea Tower’ project, a major $700 million development, and we will have updates on that soon. Additionally, we are in negotiations on a large-scale energy project exceeding 200 megawatts, which we plan to join. I cannot share more details at this stage, but we will announce it soon. We are also starting work on even larger energy projects. In all these directions—real estate, telecommunications, digital development, and energy—we are working very seriously. Of course, we will soon offer additional bond issuances and continue cooperation with international financial institutions,” Ramishvili stated.

When asked about the timeline for issuing new securities, the businessman replied:
“We are currently in a five-year cycle, so at this stage we are utilizing the existing funds. In about three years, we may consider issuing new bonds, depending on the dynamics at that time.”