BAKU, Azerbaijan, December 24
By Tamilla Mammadova – Trend:
A major part of the largest infrastructure projects in Georgia is fulfilled by Chinese construction companies, Trend reports via Georgian media.
These companies are fulfilling state orders worth hundreds of millions of lari and basically are engaged in the construction of road highways, railways, and tunnels.
According to their audit reports, the companies have several millions of income for the implementation of their infrastructure projects.
Financial results of Chinese corporations:
"Synohydro Corporation Branch in Georgia"
● Income in 2019 - 121.76 million lari ($37.3 million);
● Income in 2018 - 87.40 million lari ($26.8 million);
● Net profit in 2019 - 17.52 million lari ($5.3 million);
● Net loss in 2018 - 21.10 million lari ($6.4 million).
The branch of the Chinese state corporation Synohydro was established in Georgia in 2010. The corporation’s projects include Kobuleti by-pass road, a section of Tbilisi-Rustavi road, Zemo Osiauri Chumateleti Highway Road, road section of Samtredia-Grigoleti.
China Railway 23rd Bureau Group
● Income in 2019 - 25.23 million lari ($7.7 million); Net Profit – 95 million lari ($29.1 million);
● Income in 2018 - 130.18 million lari ($39.9 million);
● Net loss in 2019 - 7.71 million lari ($2.3 million);
● Net profit in 2018 - 95.06 million lari ($29. million).
The permanent branch of China Railway 23rd Bureau Group Ltd was opened in Georgia in 2010. The company is engaged in several projects, including modernization of the Georgian railway, construction of Samterdia-Grigoleti and Kvesheti-Kobi road sections.
China Road and Bridge Corporation
● Income in 2019 - 30.03 million lari ($9.2 million);
● Net profit in 2019 - 2.64 million lari ($810,195).
Company China Road and Bridge Corporation were founded in 1979. The company built more than 200 highways with a total length of more than 10,000 km.
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