...

Georgia negotiates with Kuwait

Oil&Gas Materials 1 December 2010 18:03 (UTC +04:00)

Georgia, Tbilisi, Dec. 1 / Trend N. Kirtskhalia /

Georgia is negotiating the construction of an oil refinery with Kuwait, Georgian Energy Minister Alexander Khetaguri said today.

He added that the negotiations have already begun with the Kuwait Investment Agency and Kuwait Finance House.

A feasibility study is being prepared together with the U.S. company Otis Capital. The company won a tender announced by the Georgian Oil and Gas Corporation.

The minister noted that about 30-40 percent of the shares will be placed on the London and Zurich stock exchanges after the project's feasibility study is determined by a contracting company.

Khetaguri said the state will think about transferring the shares to the investor after the refinery is constructed.

Tags:
Latest

Latest