In 2009, the new Georgia-based steelmaker Kutaisi Metallurgical Plant produced its first 8,000 mt of rebar, thus completing the first stage of its modernization.
In 2010, Kutaisi Metallurgical Plant plans to reach its full production capacity and to produce about 100,000 metric tons of high quality rebar per year, which will cover about 60 percent of Georgia's domestic demand, substituting rebar imports from Ukraine and Turkey.
Kutaisi Metallurgical Plant is an Indian-Georgian joint venture with Indian steel producer EurAsia Steel. The construction of the plant was started in 2008 on the site of the former Kutaisi concrete structures plant.