A large-scale almond orchard developed to full European standards is expanding in Georgia’s Kakheti region with the support of TBC Bank. Located near the Iori River in the village of Kvemo Magharo, Sighnagi Municipality, the 320-hectare project is considered one of the country’s largest and most technologically advanced agribusiness developments.
The project is owned by Magharo Capital, while TBC serves as its principal financial partner with total financing of GEL 21 million.
The partnership between TBC and Magharo Capital began in 2021, when the companies launched a shared vision to establish a modern almond production business in Georgia that meets European standards and can compete successfully on both local and international markets.
With financing from TBC, the first orchard was planted in 2023. The company harvested its pilot crop in 2025, while the current season’s yield is expected to reach 550 tonnes of in-shell almonds.
From the outset, the orchard was designed according to European agricultural standards. The project integrates technologies and materials supplied by Spanish, Italian, German, and Israeli companies. Experienced European agritech firms were involved at every stage of development — from land selection and orchard planning to the installation of advanced irrigation and fertigation systems.
Spanish almond varieties were selected for cultivation to ensure premium-quality yields. With TBC’s financial support, the company also developed state-of-the-art infrastructure, including one of Georgia’s largest water reservoirs with a capacity of 130,000 cubic metres.
The orchard is equipped with an automated irrigation system and a meteorological station integrated into smart management technologies, enabling remote control of irrigation and fertigation processes. This approach enhances operational efficiency while ensuring stable, high-quality production.
Beyond technological innovation, the project also contributes to local employment. Magharo Capital currently employs 24 full-time staff, while the number of seasonal workers reaches up to 60 during peak periods.
Export development is a key component of the company’s long-term strategy. Target markets include Europe, Central Asia, and the Middle East — regions where almond demand remains high while local production capacity is relatively limited. Georgia’s strategic geographic location provides additional logistical advantages, further strengthening the project’s export potential.
According to recent market data, almond exports from Georgia have grown steadily over the past five years, with export volumes increasing by an average of 17% annually and export revenues rising by 35%.
In addition to its export ambitions, Magharo Capital is considering further expansion plans, including the development of an additional 200 hectares of almond orchards and the establishment of a processing facility.
The almond orchard project is a joint initiative of TBC’s long-term partners — GD Group and Fere. The companies have operated successfully across multiple industries for years and entered the agribusiness sector several years ago.
For this new direction, they once again selected TBC as their financial partner. Alongside its GEL 1.2 billion agribusiness portfolio and extensive industry expertise, TBC offers tailored financial products and customized services designed to support the evolving needs of business clients.
More information about Magharo Capital is available at: Magharo Capital
