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KazMunayGaz to launch reconstruction of Likani sanatorium in Georgia in 2009

Business Materials 28 July 2009 17:40 (UTC +04:00)

Kazakhstan, Astana, Jul.28, / Trend K. Konyrova /

KazMunayGaz (KMG) National Company will begin reconstruction of Likani sanatorium in Georgia in 2009, managing director of the company, Daniyar Berlibayev, told Trend in a telephone conversation.

"We intend to launch reconstruction of Likani sanatorium in 2009. In the near future we will start to analyze the project's estimate document, "Berlibayev said.

"The company intends to invest $40 million in this project. It's KazMunayGas's own funds," Berlibayev said.

"Compensation payment to residents of the Borzhomi region of Georgia is not included in KazMunayGas's duties, as we mean investors in this case", Berlibayev said.

"Overall, we are pleased with our recent talks in Georgia, as we fulfilled our tasks. First, we proposed the Georgian side our vision for rescheduling of KazTransGas - Tbilisi debt repayments to a gas supplier. Secondly, we have reiterated our intention to continue conducting our business in this country," Berlibayev added.

According to Berlibayev, they met with Georgian Prime Minister Nika Gilauri and secured initial agreements achieved during this visit.

On the way back KMG delegation stopped in Baku, where Berlibayev met with his Azerbaijani counterparts.

"In Baku we held preliminary talks on gas supplies. However, a detailed discussion on this matter will be held later this autumn," managing director of KMG said.

A delegation including three companies KazMunayGaz, KazTransOil and KazTransGas headed by Managing Director of "KazMunayGas's Gas Projects Daniryar Berlibayev visited Georgia. The visit targeted the negotiations with the Georgian side on the assets of the company in Georgia, particularly on KazTransGas-Tbilisi and KazMunayGas Service.

On July 13, 2009 the Georgian President Mikheil Saakashvili expressed his dissatisfaction with the work of the Kazakh investors. The president said he intends to discuss the matter with of Kazakh President Nursultan Nazarbayev.

Particularly Saakashvili criticized KMG-Service, subsidiary of KazMunayGas, which bought Spa at the Likani resort.

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