TODAY:

economics

STATE PROPERTY TO BE SOLD AT-THE-MARKET

Georgian Economic Development Ministry declares that the state property to be sold at market price. With these aims, the Ministry announced a tender on audit of the immovable property (expected total cost of property – up to 55.25 million lari) in Tbilisi and the regions.

ENTERPRISES’ INVESTMENTS IN FIXED CAPITAL INCREASED 1.5 TIMES IN Q4 2008

Georgian Statistics Department reports that total investments of enterprises in fixed capital amounted to 261.3 million lari in the 4th quarter of 2008. The figure, which is based on enterprises’ officially declared data, is 1.5 times more compared with the 3rd quarter.

PERFORMANCE OF LARGE ENTERPRISES IMPROVED IN Q4 2008 COMPARED WITH Q3

Georgian Statistics Department reports that total turnover of large enterprises amounted to 4.15 billion lari in the 4th quarter of 2008 (83.3% of total turnover of the business sector), which is more by 1.5% compared with the 3rd quarter. Turnout of these enterprises made up 2.22 billion lari (81.8% of business sector’s total production) in the 4th quarter (8.8% growth).

DECISION ON CONSTRUCTION OF GAS STORAGE TO BE MADE BY THE END OF MAY

Fund Millennium Challenge Georgia (MCG) announces that Georgian Energy Ministry should make a decision about building of the underground gas storage in 3 months, i.e. by the end of May. Giorgi Abdushelishvili, executive director of the Fund, announced that 3 sites are discussed for building the gas storage.

GEORGIAN STATE ELECTRIC SYSTEM TO PRESENT TERMS OF BLACK SEA ELECTRIC TRANSMISSION LINE CONSTRUCTION

Georgian State Electric System (dispatching and transmission service) announced that terms of construction of new electric transmission line, connected Georgia with Turkey, will be presented on March 19. Staring date and other terms of construction of this so-called Black Sea grid are not named at this stage.

ADVERTISEMENT ON STRONG DRINKS TO BE ADMITTED DURING NEXT 2 YEAR

According to the amendments to the law “On Advertisement”, advertisement of strong drinks will be admitted until January 1, 2010. Advertisement of the mentioned goods was prohibited until now.

business

CHANGING OF LEASE TARIFFS IN POTI FREE INDUSTRIAL ZONE IS NOT PLANNED UNTIL OCTOBER

LLC RAK Investment Authority Georgia announced that lease tariffs in free industrial zone of Poti start from $5 per 1 square m a year and are fixed by 10-year term. As marketing group of free industrial zone told Sarke, changes in tariff will not take place until October current year.

REGULATING COMMISSION SET UP SPECIAL MANAGER IN KAZTRANSGAZ-TBILISI

Georgian Energy and Water Supply Regulating Commission announced that a special manager was set up in KazTransGaz-Tbilisi. According to decision, made at today’s meeting of the Commission, Temur Kopaliani, head of Georgian Oil and Gas Corporation security management department, was appointed in the Tbilisi gas distributor company.

LLC ORTACHALAENERGY FILED AN ACTION IN STOCKHOLM ARBITRAGE

LLC OrtachalaEnergy announced that it has registered a claim against Georgian Economic Development Ministry in Stockholm arbitrage today. The company demands cancelling of the privatization agreement on LLC OrtachalHES-2007 and recovering of $12-million damages.

SAKARTVELOS BANKI ISSUED NEW STUDENT CARD

Sakartvelos Banki (Bank of Georgia) issued new student card, which is available free of charge through May 1. After expiration of this period, the cost of card will be 3 lari.

BLITZ-SURVEY: MOTOR CARS SALES AT THE BACKGROUND OF CRISIS

The next blitz-survey, held by Sarke, was connected with motor cars sales in Georgia at the background of the economic crisis. Dealers talk about large reductions of sales and offer discounts and internal interest-free installments in order to balance the situation.

REHABILITATION OF WATER PIPES TO BE HELD IN ASPINDZA

Gamgeoba (local administration) of Aspindza (Samtskhe-Javakheti region) announced a tender on rehabilitation of water pipes. The tender includes 2 lots.

For further information:

Sarke