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Trump Intends to Build in Georgia

U.S. business tycoon Donald Trump intends to build a high-rise building in the former Soviet republic of Georgia.

Georgia's presidential press office and the Trump organization confirmed Wednesday that Trump had signed a letter of intent to build one of his self-named towers in the country.

Trump signed the deal with the Georgian business group Silk Road during a visit of President Mikheil Saakashvili to New York.

An executive vice president of the Trump organization, Michael Cohen, said Mr. Saakashvili was present at the signing.

Cohen said in a statement that while the letter of intent was just the first in a series of agreements, it demonstrated Trump's interest in investing in Georgia.

Mr. Saakashvili's press office said potential sites for the development included Tbilisi and along the Black Sea coast.

Some information for this report was provided by AFP.