TODAY:

BANKING SECTOR FINISHED Q1 WITH 28.5M LARI LOSSES

National Bank of Georgia (NBG) reports that banking sector finished the 1st quarter of 2009 with 28.5 million lari losses. Namely, 6.5 million lari losses were fixed in January, 12.2 million – in February and 9.8 million – in March.

POTI INDUSTRIAL ZONE TO START FUNCTIONING IN DECEMBER

By the decision of Georgian government, industrial zone in Poti will start operation on December 15, 2009. The zone will be located at the territory of the former extensive development zone of 3.05 million square m.

ACTUAL TOPIC: INFLATION OR DEFLATION

According to statisticians, deflation was observed in February-March 2009, while annual inflation in March made up 1.6% only (such low rate has not been fixed since October 2001). Sarke offers you analysis on the mentioned tendencies by Temur Kuprava, head of economy and finance department of Business School of Tbilisi Free University (ESM).

TAO TO INSURE LLC GEORGIAN RAILWAY’S STAFF

LLC Georgian Railway told Sarke that Tao, subsidiary insurance company of TaoPrivateBank, will provide 1-year medical insurance service to LLC’s staff. The insurance company was selected through the tender, where it was rivaled by Archimedes Global Georgia, IC Group and Irao.

LLC INZHTECHSERVICE+ TO PROVIDE GEORGIAN RAILWAY WITH RAILS

LLC Georgian Railway told Sarke that LLC Inzhtechservice+ (Engineering and Technical Service) will implement delivery of rails. That company was the only participant of the relevant tender.

IMEDI-L TO INSURE LLC ENGURHES STAFF

Imedi-L will provide individual health insurance service to employees of LLC EngurHES (Enguri hydroelectric station), LLC told Sarke. The mentioned company was selected through the tender, rivaled by Aldagi BCI, GPI Holding, Irao and Archimedes Global Georgia.

REHABILITATION OF KHERTVISI-VARDZIA ROAD TO START IN 45 DAYS

Fund Millennium Challenge Georgia (MCG) announced that rehabilitation of 11-km section of Khertvisi-Vardzia road will start in 45 days. Works should be finished by the end of 2010.

SMALL HES WAS OPENED IN ADIGENI THROUGH USAID SUPPORT

A small hydroelectric station (HES), which was idle for years, was launched today in the Kakhareti village (Adigeni district of Samtskhe-Javakheti region). The HES was rehabilitated in terms of USAID-funded program on rural energy development (grant of USAID made up $148,000).

LAB ON REFERENCE MASS TO START OPERATING IN GEORGIA IN A MONTH

Laboratory on Reference Mass will start operating in Georgia nearly in a month, Georgian National Agency for Standards, Technical Regulations and Metrology told Sarke. According to Nodar Khatiashvili, director general of the Agency, reconstruction works, which cost 120,000 lari, are practically over.

CENTER FOR STRATEGIC RESEARCH AND DEVELOPMENT REVEALED VIOLATIONS IN SOUR CREAM INGREDIENTS

Center for Strategic Research and Development of Georgia announced that sour cream includes 80% of butterfat (in the best case), while the rest 20% are other fats. That means that surrogate sour cream is sold on the local market, the Center stated.

SOCAR PETROLEUM GEORGIA ACQUIRED BUILDING IN BATUMI

Ajara Finance and Economy Ministry told Sarke that LLC Socar Petroleum Georgia bought a building in Batumi (Gogebashvili Str. 46) at the recent auction.

PROPERTY OF JSC ALIONI IS AUCTIONED FOR 2.06M LARI

Tbilisi regional center of Georgian Finance Ministry’s revenue service (tax inspection) announced an auction on JSC Alioni property. Total starting price makes up 2.06 million lari.

JSC PROGRESS XXI WAS NOT SOLD AGAIN

Auction on state-owned JSC Progress XXI, which was announced by Georgian Economic Development Ministry, failed again. Starting price of 100% of shares made up $600,000.

SEINER AND DRY CARGO SHIP WERE NOT SOLD AGAIN

Financial Agency of Georgian Finance Ministry told Sarke that two ships (seiner and dry cargo ship) were not sold again at the auction, held these days. The auction failed because of applications absence, the Agency said.

JSC GZAMSHENI #11 TO REHABILITATE INTERNAL ROADS IN TETRITSKARO

Municipality of Tetritskaro told Sarke that Georgian JSC Gzamsheni #11 will implement rehabilitation of internal roads. The mentioned company was rivaled on the tender by 2 companies.

WATER SYSTEM REHABILITATION TO START IN AKHALTSIKHE

Gamgeoba (local administration) of Akhaltsikhe (Samtskhe-Javakheti region) announced a tender on rehabilitation of drinking water system. Tender, which includes 2 lots, will be held on May 22.

LLC INTURISTMSHENI TO HOLD REHABILITATION OF WATER SUPPLY SYSTEM IN KAZBEGI

Georgian company LLC Inturistmsheni will hold rehabilitation of water supply system and its headgate in Kazbegi district (Mtskheta-Mtianeti region), Kazbegi gamgeoba (local administration) told Sarke. The company was rivaled on the tender by 3 other companies.

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Sarke