Sarke: newsletter of 23 January 2009

TODAY:

economics

THE THIRD PHASE OF GAS PIPELINE REHABILITATION SHOULD COVER KAZBEGI REGION

Fund Millennium Challenge – Georgia (MCG) told Sarke that preparation works are held at this stage to start the third phase of rehabilitation of North-South gas pipeline. It is planned to restore 7 sections in terms of this phase, mainly in Kazbegi district.

SAKAERONAVIGATSIA EXPECTS FOR $14M CREDIT FROM EBRD

LLC Sakaeronavigatsia (Georgian Air Navigation) expects for $14 million credit from the European Bank for Reconstruction and Development (EBRD) to acquire the modern equipment. As Sakaeronavigatsia told Sarke, negotiations are underway at this stage and credit agreement should be signed in the nearest future.

business

SEVERAL COMPANIES ARE INTERESTED WITH REHABILITATION OF THE ROADS OF INTERNATIONAL IMPORTANCE

Tender applications of companies, which are interested in rehabilitation of roads of the international importance, were opened these days in Georgian Motor Roads Department. The winners will be announced in 2 weeks.

OIL-PRODUCTS COMPANIES PASSED 408M LARI TO THE BUDGET IN 2008

Union of Oil-Products Producers, Consumers and Importers reports that companies, engaged in oil-products business, had passed 408 million lari to the budget in 2008.

Socar Georgia Petroleum passed the biggest sum (172.3 million lari).

JSC WISSOL PETROLEUM GEORGIA PLANS 20-25M LARI INVESTMENTS

JSC Wissol Petroleum Georgia (oil products importer and retail seller) plans to invest 20-25 million lari in 2009, told Sarke company’s director general Vasil Khorava.

The sum will be mainly directed at development of infrastructure, Khorava noted.

NET PROFIT OF LLC LUKOIL GEORGIA REDUCED IN 2008

Net profit of LLC LUKOil Georgia (oil-products importer and retail seller) reduced by 20% in 2008 if compared with the previous year, company’s deputy director general Gocha Sultanishvili told Sarke. He named August war and world financial crisis as the reason.

ENERGOPRO-GEORGIA COVERED PRIVATIZATION SUM OF ORTACHALHES-2007

Georgian Economic Development Ministry announced that the new owner of LLC OrtachalHES-2007, EnergoPro-Georgia, has totally covered the privatization sum. The paid sum made up $25.25 million.

FOUR LARGE BANKS ARE INTERESTED WITH PROVISION OF BANKING SERVICE TO RUSTAVI BUDGET

Rustavi City Hall announced that 4 banks applied for the tender on provision of the banking service to Rustavi budget. The service should be implemented during year 2009.

NEXT TRY TO SELL AGROINVESTBANK’S PROPERTY TO BE IN FEBRUARY

The third auction on property of Agroinvestbank, which is in the liquidation regime, failed the other day. Auction commission said that the auction failed because of applications absence again.

LLC GT GROUP SUFFERED INCOMES REDUCTION

LLC GT Group (car spares, tyres, lubricants import) reported that incomes in 2008 reduced by 50% compared with the previous year. As a result, the company paid 4.3 million lari to the budget, which is less by 22% compared with the same rates of 2007.

GEOCELL AND MAGTI HAVE ALMOST EQUAL NUMBER OF CLIENTS

By the state of January 2009, number of Geocell’s (mobile communications operator) clients makes up 1.8 million, while number of Magti’s clients exceeds 1.9 million.

It should be mentioned that number of Geocell’s clients increased by 20% compared with the same period of 2008, while number of Magti’s clients increased by nearly 12%.

MAGTI CHANGED MOBILE INTERNET TERMS

Mobile communications operator Magti reports that it reduced prices on using internet service.

Namely, traffic of 100 MB costs 10 lari now, instead of 15 lari; 400 MB – 15 lari instead of 30 lari; 1,000 MB – 30 lari instead of 60 lari.

For further information:

Sarke