Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili revealed that negotiations with Eagle Hills lasted more than nine months, describing the process as both challenging and highly engaging. He noted that these talks were strengthened by the involvement of a leading international law firm, whose support was essential throughout the negotiations.

Nadareishvili said the collaboration model—where the state participates as a project partner—could serve as a promising blueprint for future initiatives, particularly in infrastructure and energy, where direct state involvement often encourages investors to take crucial steps.

He pointed to Georgia’s pioneering regional venture capital investment fund, launched about two years ago, as a successful example of effective state participation. Previously considered difficult or even unrealistic, the model has since demonstrated strong results.

According to the Deputy Minister, the state will serve as a passive investor in the Eagle Hills project as well, with all remaining investors being private-sector entities, including well-known international financial institutions and an American asset manager ranked among the world’s top five.

Nadareishvili dismissed speculation that the state intends to enter the private sector directly.

“In the case of Eagle Hills, the company will manage the business—this is its expertise. The state will be represented through the supervisory board and governance structure, but strictly in a passive role,” he explained.

He added that certain important decisions will require consensus, ensuring that no key choices can be made without state approval.