BAKU, Azerbaijan, Dec.28
By Tamilla Mammadova – Trend:
The Georgian government will sign another contract with the Chinese corporation Sinohydro for the construction of the East-West highway, Trend reports via Georgian media.
The contract value is 264.99 million lari ($81.2 million), and within the framework of the contract, the Chinese corporation will build the Upper Osiauri-Chumateleti section.
An international tender for the project was announced in February this year, its estimated cost was 354 million lari. In total, 10 participants took part in the tender, most of whom were Chinese state-owned companies. The only Georgian participant was Black Sea Group, which proposed to the Department of Roads.
Sinohydro is one of the largest contractors of the Georgian government, with which the state has signed construction contracts worth more than 1 billion lari ($306.7 million) over the past 10 years. These include the construction of the Kobuleti bypass road, construction of the first and third sections of the Tbilisi-Rustavi section; construction work on the 5.8 km section of the Zemo-Osiauri-Chumateleti expressway; Construction of the Samtredia-Grigoleti section with a length of 19.5 km.
According to the financial report, in 2019, Sinohydro's revenue in Georgia was 122 million lari ($37.4 million), and its net profit was 17.7 million lari ($5.4 million).
Besides Georgia, Sinohydro is implementing projects in Bangladesh, Pakistan, Uganda, Sri Lanka, and Algeria. The company mainly specializes in the construction of hydropower facilities, although in Georgia it is engaged in the construction of highways.
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