Privatization of Georgian Railway and Oil and Gas Corporation not planned
Georgia, Tbilisi, Jan. 8 / Trend, N. Kirtskhalia /
There are no plans for the privatization of The Georgian Railway, and Oil and Gas Corporation, the head of Georgian Partnership Fund which manages Georgian state companies Irakli Kovzanadze told journalists on Tuesday.
He said management officials were replaced in the Oil and Gas Corporation, as well as in the Georgian Railway, where financial gain is planned.
"Both companies are strategically important and meet regulations. The corporation issued five-year Eurobonds worth 250 million, while the Georgian Railway issued 0.5 billion worth of 10 year bonds. The privatization of these companies is not on the agenda for 2013", Kovzanadze said.
He added that as a result of investment portfolio audit, some projects were suspended for additional analysis while others were simply allowed to continue.
Kovzanadze noted that the fund works in two areas.
"The first being management of the companies owned by the fund, which are the Oil and Gas Corporation and the Georgian Railway, Power Systems and 25 percent of Telasi. The second is investment projects and support for private investments," Kovzanadze said.